Spinal Elements Announces Launch of Initial Public Offering
CARLSBAD, Calif., Oct. 08, 2020 (GLOBE NEWSWIRE) — Spinal Elements Holdings, Inc. (“Spinal Elements”), a CA-based spine technology company, today announced the launch of its initial public offering of 7,700,000 shares of its common stock at an anticipated initial public offering price between $13.00 and $15.00 per share pursuant to a registration statement filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”). The Company expects to grant the underwriters a 30-day option to purchase up to an additional 1,155,000 shares of common stock at the initial public offering price less the underwriting discounts and commissions. Spinal Elements intends to list its common stock on the NASDAQ Global Market under the ticker symbol “SPEL.”
In addition to the shares of common stock sold in the public offering, entities affiliated with Kohlberg & Co., L.L.C., the Company’s majority shareholder, have indicated an interest in purchasing 6,000,000 shares of common stock in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended, at a price per share equal to the public offering price. The underwritten public offering is not contingent on the private placement.Credit Suisse, Baird, and Stifel are acting as the joint book-running managers and as representatives of the underwriters for the offering. Truist Securities and BTIG are acting as book-running managers for the offering. Siebert Williams Shank is acting as co-manager for the offering.The offering of the securities in the initial public offering will be made only by means of a prospectus. Copies of the preliminary prospectus may be obtained from:Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, by telephone at (800) 221-1037 or by email at usa.prospectus@credit-suisse.com;Robert W. Baird & Co. Incorporated, Attention: Syndicate Department, 777 East Wisconsin Avenue, Milwaukee, WI 53202, by telephone at 800-792-2473, or by email at syndicate@rwbaird.com; orStifel, Nicolaus & Company Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at 415-364-2720 or by email at syndprospectus@stifel.com.
A registration statement, including a prospectus, which is preliminary and subject to completion, relating to the initial public offering has been publicly filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.About Spinal ElementsA leading designer, developer, manufacturer, and marketer of innovative medical devices used in spinal surgical procedures, Spinal Elements combines leading medical device technologies, biologics, and instrumentation to create positive surgical outcomes that exceed surgeon and patient expectations. Spinal Elements has built a reputation delivering innovative and differentiated technologies that enable fundamental shifts in solutions for spine surgery. The company markets a complete portfolio of advanced spinal implant technologies. Spinal Elements is a technology-driven company headquartered in Carlsbad, California.Forward-Looking and Cautionary StatementsInvestor Contact:
Greg Chodaczek
Gilmartin Group LLC
347-620-7010
investors@spinalelements.com
In addition to the shares of common stock sold in the public offering, entities affiliated with Kohlberg & Co., L.L.C., the Company’s majority shareholder, have indicated an interest in purchasing 6,000,000 shares of common stock in a private placement exempt from the registration requirements of the Securities Act of 1933, as amended, at a price per share equal to the public offering price. The underwritten public offering is not contingent on the private placement.Credit Suisse, Baird, and Stifel are acting as the joint book-running managers and as representatives of the underwriters for the offering. Truist Securities and BTIG are acting as book-running managers for the offering. Siebert Williams Shank is acting as co-manager for the offering.The offering of the securities in the initial public offering will be made only by means of a prospectus. Copies of the preliminary prospectus may be obtained from:Credit Suisse Securities (USA) LLC, Attention: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, North Carolina 27560, by telephone at (800) 221-1037 or by email at usa.prospectus@credit-suisse.com;Robert W. Baird & Co. Incorporated, Attention: Syndicate Department, 777 East Wisconsin Avenue, Milwaukee, WI 53202, by telephone at 800-792-2473, or by email at syndicate@rwbaird.com; orStifel, Nicolaus & Company Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at 415-364-2720 or by email at syndprospectus@stifel.com.
A registration statement, including a prospectus, which is preliminary and subject to completion, relating to the initial public offering has been publicly filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.About Spinal ElementsA leading designer, developer, manufacturer, and marketer of innovative medical devices used in spinal surgical procedures, Spinal Elements combines leading medical device technologies, biologics, and instrumentation to create positive surgical outcomes that exceed surgeon and patient expectations. Spinal Elements has built a reputation delivering innovative and differentiated technologies that enable fundamental shifts in solutions for spine surgery. The company markets a complete portfolio of advanced spinal implant technologies. Spinal Elements is a technology-driven company headquartered in Carlsbad, California.Forward-Looking and Cautionary StatementsInvestor Contact:
Greg Chodaczek
Gilmartin Group LLC
347-620-7010
investors@spinalelements.com
