OrthoPediatrics publicly filed an amendment to its Form S-1, indicating plans to raise US $57.5MM in a proposed initial public offering (IPO) of its common stock. This is a reduction from previous terms, which disclosed a planned raise of ~$75.0MM.
Net proceeds will be used to pay dividends on Series B Preferred Stock, invest in implant/instrument sets, support R&D, expand sales and marketing, etc. A portion may be used to acquire or invest in complementary technologies.
OrthoPediatrics posted 2016 revenue of $37.2MM, a +20.3% increase vs. $31.0MM in 2015. The company is focused exclusively on products to serve the pediatric orthopaedic market, and in 2017 alone has launched PediFrag clavicle plates and a Distal Femoral Osteotomy system.
As noted in the original IPO announcement, the company plans to list on NASDAQ as KIDS.