OrthoPediatrics (NSDQ:KIDS) announced earlier this week that it commenced an underwritten public offering of its common stock.
The Warsaw, Ind.-based pediatric orthopedics company intends to grant underwriters a 30-day option to purchase additional shares of common stock at the public offering price. According to a news release, there is no assurance as to whether or not the offering may be completed, or the actual size or terms of the offering.
OrthoPediatrics said it intends to use the net proceeds to invest in implant and instrument sets for consignment to its customers, to fund research and development activities and to expand its sales and marketing programs, along with working capital and other general corporate purposes.
Piper Sandler and Stifel are acting as joint book-running managers of the proposed offering.