Bioventus today announced the commencement of its initial public offering, selling 7.35 million shares of Class A common stock at $16–18 per share, which could fetch the company roughly $118–132 million.
The shares are expected to trade on the Nasdaq Global Select Market under the ticker symbol “BVS.”
The offering will be made only by means of a prospectus, according to a Bioventus news release. Buying and selling will start once a registration statement filed with the U.S. Securities and Exchange Commission becomes effective.
Underwriters have a 30-day option to purchase up to an additional 1,102,500 common stock shares at the IPO price to cover over-allotments.
Morgan Stanley, J.P. Morgan Securities and Goldman Sachs are the joint lead book-running managers and underwriter representatives, and Canaccord Genuity is acting as lead manager for the offering.
Durham, N.C.–based Bioventus’ products include the Exogen ultrasound bone healing system, joint pain injection therapies, and surgical orthobiologics.