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Thursday, August 2, 2012

Globus Medical IPO Stock price range per share

Globus Medical IPO Stock price range per share, Globus Medical IPO Stock symbol, Globus Medical IPO prospectus : Spinal implant manufacturer Globus Medical Inc cut the size and expected price range of its initial public offering as the IPO market continues to see poor pricing, pulled deals and delayed offerings.

The company, which is expected to price its IPO on Thursday evening, now plans to sell 8.3 million shares between $12 and $13 per share.

Audubon, Pennsylvania-based Globus Medical had earlier expected to sell 11.8 million shares in a price range of $16 to $18 per share.

The company, which makes and commercializes products for patients with spine disorders, plans to list its Class A common stock on the New York Stock Exchange under the symbol "GMED".

Globus Medical will sell about 2.1 million shares, while selling stockholders will offer the rest. It intends to use the proceeds from the offering to expand its sales and for investments in research and development.

BofA Merrill Lynch, Goldman Sachs and Piper Jaffray are among the underwriters of the offering.

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