Power Medical aims for $100m in public offering
This article was originally published in Clinica
Langhorne, Pennsylvania-based Power Medical Interventions (PMI), a developer of reusable computerized devices for delivering staples during surgery, is expecting to raise up to $100m in an initial public offering of its common stock. PMI aims to channel the proceeds toward the expansion of sales and marketing organisations, continuation of research efforts, and the possible acquisition of complementary businesses. Underwriters have been granted a 30-day option to purchase an additional undisclosed amount of shares. The company is looking to be listed under the symbol "PMII".