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Director Philip Young reported purchasing 59,999 shares of CARLSMED, INC. (NASDAQ:CARL) common stock at a price of $15.00 on July 24th, bringing the total value of the purchases to $899,985. The purchase price sits near the stock’s 52-week high of $15.20, with CARL currently trading at $14.45. According to InvestingPro analysis, the company appears overvalued at current levels despite maintaining strong liquidity with a current ratio of 6.48.
The purchases were made in two transactions. 6,666 shares were acquired through PMY Partners L.P. and 53,333 shares were acquired through the Young Family Trust.
Young also acquired 17,333 shares of common stock on July 22nd as a result of a restricted stock unit award. Additionally, 28,900 shares were acquired indirectly through conversion of preferred stock. The conversion of 28,900 shares of Series B Preferred Stock into common stock was also reported.
In other recent news, Carlsmed , Inc. has successfully launched its initial public offering (IPO) on the Nasdaq Global Select Market. The company priced its IPO at $15 per share, offering 6,700,000 shares of common stock. Carlsmed anticipates gross proceeds of approximately $100.5 million from this offering, before accounting for underwriting discounts, commissions, and other expenses. The shares began trading under the ticker symbol "CARL," marking a significant milestone for the company. Carlsmed had previously announced the pricing range for the IPO between $14 and $16 per share. The underwriters have a 30-day option to purchase up to an additional 1,005,000 shares at the initial offering price. The IPO is expected to close soon, pending customary closing conditions. These developments mark a new chapter for Carlsmed as it enters the public market.
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