SI-BONE, which manufactures spinal implants for the alleviation of lower back pain, announced terms for its IPO on Friday.
The Santa Clara, CA-based company plans to raise $84 million by offering 6 million shares at a price range of $13 to $15. Insiders intend to purchase up to $32 million of the IPO (38% of the deal). At the midpoint of the proposed range, SI-BONE would command a fully diluted market value of $335 million.
SI-BONE was founded in 2008 and booked $52 million in revenue for the 12 months ended June 30, 2018. It plans to list on the Nasdaq under the symbol SIBN. Morgan Stanley and BofA Merrill Lynch are the joint bookrunners on the deal. It is expected to price during the week of October 15, 2018.
