Spinal surgery devices maker K2M Group Holdings hopes to raise as much as $100 million through its impending initial public offering, according to registration documents filed with the SEC.

The Virginia -based company has yet to reveal per-share pricing and other details of the IPO, but has said that it hopes to use the funds to wipe out some debts and pay out some dividends. The company said that it owes about $22.3 million in outstanding debt on its shareholder notes, $23.5 million on an outstanding credit facility and $15.7 million in unpaid dividends on Series A and B preferred stock.

K2M has long been the largest privately held spinal implants maker, but announced earlier this year plans to go public at long last. There is still no sense of timing for the IPO, but the company has said in the past that it’s waiting for the right market conditions.

"I really believe we positioned the company very well now, so that when those medtech markets open up, I think we are well-positioned for an [initial public offering]. I think that’s one of the obvious potential next steps for the organization,"K2M co-founder, president & CEO Eric Major told MassDevice.com in an interview last year.

K2M will trade on the Nasdaq exchange under the KTWO ticker following the IPO.