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Carlsmed Inc. (CARL) announced the pricing of its initial public offering at $15.00 per share for 6.7 million shares of common stock. The medical technology company expects to raise approximately $100.5 million in gross proceeds before deducting underwriting discounts and commissions.
The shares are expected to begin trading on the Nasdaq Global Select Market on July 23, 2025, with the offering scheduled to close on July 24, 2025, subject to customary closing conditions.
Carlsmed has granted underwriters a 30-day option to purchase up to an additional 1.005 million shares at the IPO price, less underwriting discounts and commissions. If exercised, this option could increase the total proceeds from the offering.
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 U.S. Securities and Exchange Commission declared the registration statement for these securities effective on July 22, 2025. The offering is being conducted through a prospectus, with copies available from the underwriters.
Carlsmed develops AI-enabled personalized spine surgery solutions and describes itself as a commercial-stage medical technology company focused on spine fusion surgery procedures.