Silk Road Medical, which sells medical devices to treat carotid artery disease, announced terms for its IPO on Monday.
The Sunnyvale, CA-based company plans to raise $75 million by offering 4.7 million shares at a price range of $15 to $17. Insiders intend to purchase $15 million worth of shares in the offering (20% of the deal). At the midpoint of the proposed range, Silk Road Medical would command a fully diluted market value of $513 million.
Silk Road Medical was founded in 2007 and booked $35 million in sales for the 12 months ended December 31, 2018. It plans to list on the Nasdaq under the symbol SILK. J.P. Morgan and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price during the week of April 1, 2019.
Read More: https://www.nasdaq.com/article/carotid-artery-device-maker-silk-road-medical-sets-terms-for-75-million-ipo-cm1119264