Treace Medical Concepts kicks higher after upsized IPO

Treace Medical Concepts

23/04/2021 18:34

** Treace Medical Concepts Inc  TMCI.O , commercial-stage
medical device co focused on surgical treatment of bunions,
jumps on debut
    ** TMCI opens at $24.50 vs $17 IPO price. Shares last up
58.2% at $26.90
    ** IPO of 11.25 mln shares, up from ~9.4 mln, prices at top
of $15-$17 marketed range  urn:newsml:reuters.com:*:nGNXSFg4B
    ** Treace sells 6.25 mln shares, while certain shareholders
sell the balance
    ** Co sold 11,113 of its proprietary Lapiplasty 3D kits in
2020, 44% increase from prior year, generating $57.4 mln of
revenue and net loss of $3.7 mln, according to SEC filing https://www.sec.gov/Archives/edgar/data/1630627/000119312521120293/d111748ds1a.htm
    ** JP Morgan and Morgan Stanley jt bookrunners for the IPO

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com 1-332-219-1430))