Carlsmed announced today that filed a registration statement with the SEC relating to a proposed initial public offering (IPO).
The Carlsbad, California–based company has yet to determine the number of shares and price range for the proposed offering. It applied to list its common stock on the Nasdaq global select market under the “CARL” ticker.
Carlsmed’s offering remains subject to market and other conditions. The company can make no assurances as to the completion of the offering or as to the actual size or terms of the offering.
BofA Securities, Goldman Sachs & Co. LLC, and Piper Sandler serve as joint lead book-running managers and representatives of the underwriters for the proposed offering. Truist Securities and BTIG are acting as joint book-runners for the proposed offering.
Carlsmed develops technologies for AI-enabled personalized spine surgery. The spine surgery device maker already holds FDA breakthrough device designation for the Aprevo lumbar and cervical patient-specific interbody fusion devices. Its implantable devices and software platforms hold FDA clearance for lumbar spine fusion. That includes anterior, lateral and transforaminal approaches.
A potential IPO for Carlsmed follows a recent resurgence of the offerings across medtech. Wearable defibrillator maker Kestra Medical completed a $202 million IPO in March, while Beta Bionics went public in January with a $204 million IPO. Last year, heart valve company Anteris Technologies and neurotech company CeriBell completed IPOs. Additionally, medtech distribution giant Medline submitted a draft registration to the SEC related to a proposed IPO in December.
