Silk Road Medical IPO beats a path, soars over 80% in debut

Silk Road Medical

04/04/2019 17:27

** Silk Road Medical  SILK.O , which sells medical devices
to treat carotid artery disease, soars over 80% in debut after
co prices an upsized offering
    ** SILK opens 66% above $20 IPO price and climbs to as high
as $37.30, valuing co just north of $1 bln
    ** Offers 6 mln shares at top of already upwardly revised
range of $19-$20  urn:newsml:reuters.com:*:nGNX6DXkFB
    ** Co had marketed 4.7 mln shares at $15-$17 upon launch
    ** Silk Road to use proceeds to expand its sales force to
support its FDA-approved treatment for patients who are at high
risk of having a stroke
    ** Warburg Pincus, 56% owner pre-IPO, Vertical Group (19%),
Norwest Venture Partners (11%), and Janus (11%) are Silk Road's
largest shareholders. SEC filing https://www.sec.gov/Archives/edgar/data/1397702/000162828019003798/silkroads-1a3.htm#s9FAD7C0B08DA716BF855D18BDD528462
    ** JP Morgan and BofA-ML are joint bookrunners, joined by
BMO and Stifel as co-managers for the IPO

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