OrthoPediatrics Making Stock Offer

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Mark Throdahl is CEO of OrthoPediatrics. (photo courtesy Nasdaq) Mark Throdahl is CEO of OrthoPediatrics. (photo courtesy Nasdaq)
WARSAW -

Warsaw-based OrthoPediatrics Corp. (Nasdaq: KIDS) has begun a public stock offering. The pediatric medical device manufacturer is looking to raise up to nearly $47 million as a result of the offering, which is expected to close Tuesday.

The company is offering 1.5 million shares of its common stock at a price to the public of $27 per share. The underwriters will also have a 30-day option to purchase up to an additional 225,000 shares at the public offering price.

OrthoPediatrics says it plans to use the net proceeds from the offering to "invest in implant and instrument sets for consignment to its customers, fund research and development activities, expand its sales and marketing programs and working capital and general corporate purposes."

OrthoPediatrics went public in October 2017 and had a busy first year as a publicly-traded company. In August, the company reported record quarterly revenue and a few days later, announced plans to invest $1 million to expand its Kosciusko County headquarters. 

In October, OrthoPediatrics also received FDA clearance for its latest surgical set.

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