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Carlsmed, Inc., a medical technology company focused on AI-enabled personalized spine surgery solutions, announced the launch of its initial public offering of 6,700,000 shares of common stock, according to a company statement.
The Carlsbad, California-based company set an expected price range of $14.00 to $16.00 per share for the offering. Underwriters have a 30-day option to purchase up to 1,005,000 additional shares at the IPO price, less underwriting discounts and commissions.
Carlsmed has applied to list its common stock on the Nasdaq Global Select Market under the ticker symbol "CARL."
BofA Securities, Goldman Sachs & Co. LLC, and Piper Sandler serve as joint lead book-running managers for the offering. Truist Securities and BTIG act as joint book-runners.
The company filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission, though it has not yet become effective. The securities cannot be sold until the registration statement becomes effective.
Carlsmed describes itself as a commercial-stage medical technology company that develops personalized spine surgery solutions using artificial intelligence technology.