Oratec IPO Proceeds To Expand Marketing Of Thermal Spine/Joint Treatment
This article was originally published in The Gray Sheet
Marketing activities for Oratec Interventions controlled thermal energy systems to treat spine and joint disorders will be expanded following a planned initial public offering, the firm says.
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Initial public offering of 4 mil. shares at $14 each on April 5 grosses $56 mil. The Menlo Park, California firm markets the SpineCath intradiscal electrothermal therapy system and electrothermal arthroscopy system, and plans to use a portion of the IPO proceeds to expand marketing activities (1"The Gray Sheet" July 19, 1999, p. 11). Oratec shares trade on the Nasdaq exchange under the symbol "OTEC." Underwriters Merrill Lynch, J.P. Morgan and U.S. Bancorp Piper Jaffray hold an overallotment option for 600,000 additional shares
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