Si-Bone (NSDQ:SIBN) last week closed an initial public offering that brought in much more than anticipated for its iFuse sacroiliac implant.
The Santa Clara, Calif.-based company priced the 7.2-million-share flotation at $15 per share, which at $108 million would have topped its initial range of about $90 million to nearly $104 million (which itself would have beaten the $99 million target set in its initial IPO registration in September).
In the end, however, Si-Bone said it put up 8.28 million shares, including a 1.08-million-share over-allotment, for gross proceeds of $124.2 million.
The stock, which opened Oct. 17 at $21.00 per share, closed down -3.1% at $20.35 per share Oct. 19.
Morgan Stanley and BofA Merrill Lynch were joint book-runners for the IPO, with Cannaccord Genuity and JMP Securities as co-managers.
