Avedro, which sells ophthalmic medical systems used in treating corneal disorders, announced terms for its IPO on Monday.
The Waltham, MA-based company plans to raise $75 million by offering 5 million shares at a price range of $14 to $16. At the midpoint of the proposed range, Avedro would command a fully diluted market value of $290 million.
Avedro was founded in 2002 and booked $24 million in sales for the 12 months ended September 30, 2018. It plans to list on the Nasdaq under the symbol AVDR. BofA Merrill Lynch and J.P. Morgan are the joint bookrunners on the deal. It is expected to price during the week of February 11, 2019.
