March 20, 2017 | Blake Mossy
Merit Medical Systems commenced a public offering of shares of its common stock for $125.0 million.
Under the terms of the offering, the company plans to grant the participating underwriters an over-allotment of an additional $18.8 million of shares of common stock.
Merit Medical, founded in 1987, and headquartered in South Jordan, UT, develops disposable medical devices used in interventional, diagnostic and therapeutic procedures for the cardiology, radiology and endoscopy markets. Within orthopedics, Merit offers spine products for the treatment of vertebrae pathologies.
The company’s spine portfolio consists of the STAR Tumor Ablation System, which delivers pain relief and localized tumor destruction, and a full-suite of vertebral compression fracture (VCF) solutions that utilize ultra-high viscosity cement to treat pathological fractures and minimize extravasation.
Merit intends to use the offering’s net proceeds to repay a portion of its debt obligations under the company’s outstanding credit facilities.