Globus Medical IPO pulls in $100M in the face of lowered expectations

Medical devicemaker Globus Medical ($GMED) drew in about $100 million after its initial stock price of $12 per share rose 9.2% in the wake of its IPO debut late last week, The Wall Street Journal reports. Globus, an Audubon, PA-based designer of devices to treat patients with spine disorders, launched its IPO with lowered expectations. Initially, the company had said it would sell 11.8 million shares, priced between $16 and $18 for its IPO, but subsequently lowered its opening price. Globus stock debut rose to $13.10 per share on the New York Stock Exchange with 8.3 million shares sold. Story (sub. req.)

Suggested Articles

Coronavirus may not require a front-line battle yet in certain places, but it’s still taxing public health officials preparing for a potential crisis.

Cybernet Manufacturing, maker of medical-grade computer monitors, has unveiled a new, large touchscreen designed to protect against infections.

A startup has raised $12 million to fund its real-time system for monitoring patients undergoing dialysis at home and calling in complications.