Aziyo Biologics priced its initial public offering of 2,941,176 shares of common stock at a public offering price of $17/share.
The company's FiberCel, ViBone and OsteGro V viable bone matrices address orthopedic and spine applications. FiberCel is sold exclusively through Medtronic, while ViBone is available exclusively through an agreement with Surgalign (formerly RTI Surgical). In 3Q18, Aziyo entered into a co-marketing agreement with SurGenTec to supply ViBone viable bone matrix cartridges for distribution with SurGenTec's GraftGun universal graft delivery system.
The offering is expected to close on October 13, 2020. Gross proceeds of ~$50 million will support expanded sales staff, marketing programs, product development and clinical research, as well as general corporate purposes. A portion may be used to acquire, in-license or invest in complementary products, technologies or businesses.
Aziyo’s stock will trade on Nasdaq under the ticker symbol AZYO.