Spine surgery firm Carlsmed falls in Nasdaq debut after $101 million IPO

Carlsmed

23/07/2025 17:41

** AI-enabled spine surgery firm Carlsmed's CARL.O shares fall 2.7% to $14.60 in their Nasdaq debut

** Stock fell as much as 6.7% after opening flat at $15 apiece

** CARL sold 6.7 million shares at the midpoint of its marketed range of $14 and $16 apiece to raise $100.5 million

** BofA Securities, Goldman Sachs, and Piper Sandler were the joint lead book-running managers for the offering

** Founded in 2018, CARL is a commercial-stage medical technology company focused on the spine surgery market

** Medtech firms Shoulder Innovations and Heartflow have also joined the IPO pipeline this month

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com;))