Tactile Systems Technology, which sells at-home compression therapy devices for vascular swelling, announced terms for its IPO on Thursday.
The Minneapolis, MN-based company plans to raise $60 million by offering 4.0 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Tactile Systems Technology would command a fully diluted market value of $262 million.
Tactile Systems Technology was founded in 1995 and booked $66 million in sales for the 12 months ended March 31, 2016. It plans to list on the Nasdaq under the symbol TCMD. Piper Jaffray, William Blair and Canaccord Genuity are the joint bookrunners on the deal. It is expected to price during the week of June 20, 2016.
