Avedro (AVDR) expects to raise $75 million in an initial public offering on Thursday, February 14th, IPO Scoop reports. The company will be issuing 5,000,000 shares at a price of $14.00-$16.00 per share.
In the last year, Avedro generated $24 million in revenue and had a net loss of $25.4 million. Avedro has a market-cap of $255.9 million.
BofA Merrill Lynch and J.P. Morgan acted as the underwriters for the IPO and Cowen, Guggenheim Securities and SVB Leerink were co-managers.
Avedro provided the following description of their company for its IPO: ” We are a leading commercial-stage ophthalmic medical technology company focused on treating corneal ectatic disorders and improving vision to reduce dependency on eyeglasses or contact lenses. Our proprietary Avedro Corneal Remodeling Platform is designed to strengthen, stabilize and reshape the cornea utilizing corneal cross-linking in minimally invasive and non-invasive outpatient procedures to treat corneal ectatic disorders and correct refractive conditions, which are caused by changes in the shape of the eye that prevent light from focusing on the retina, causing blurred vision. “.
Avedro was founded in 2002 and has 122 employees. The company is located at 201 Jones Road, Waltham, MA 02451, US and can be reached via phone at (781) 768-3400 or on the web at http://www.avedro.com.
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