Spinal Elements Holdings, which develops medical devices for minimally invasive spinal surgery procedures, postponed its IPO on Thursday, citing market conditions. It had filed to raise $108 million by offering 7.7 million shares at a price range of $13 to $15.
Primary shareholders include Kohlberg & Company and CEO Jason Blain.
The Carlsbad, CA-based company was founded in 2003 and booked $93 million in sales for the 12 months ended June 30, 2020. It had planned to list on the Nasdaq under the symbol SPEL. Credit Suisse, Baird, Stifel, Truist Securities and BTIG were set to be the joint bookrunners on the deal.
