K2M Group prices IPO at $15, below the range

K2M Group Holdings, which develops and sells medical devices used in spinal surgeries, raised $132 million by offering 8.8 million shares at $15, below the $16 to $18 range. K2M raised 12% fewer proceeds than expected and, at its offer price, now commands a fully diluted market cap of $593 million and an enterprise value of $524 million. K2M Group will list on the NASDAQ under the symbol KTWO. Piper Jaffray, Barclays and Wells Fargo Securities acted as joint bookrunners on the deal.