K2M Group (NSDQ:KTWO) said it registered for a $40 million follow-on public offering and won a nod from the FDA for a new spinal implant system.

Leesburg, Va.-based K2M said it plans to use some of the proceeds from the follow-on flotation of 4.9 million shares to expand its worldwide sales footprint and possibly for acquisitions, plus working capital and general corporate purposes.

The company, once the largest privately held spinal device maker, took itself public in the spring of 2014, raising $132 million.

Piper Jaffray & Co., Barclays Capital and Wells Fargo Securities are the joint book-running managers for the offering, with William Blair & Co. and Cowen & Co. as co-managers, according to the release.

In a separate announcement, K2M said the FDA granted 510(k) clearance for its Mesa 2 deformity spinal device, a pedicle screw system designed to address the most complex spinal pathologies.