Nevro Corp., announced an initial public offering last Friday as the company attempts to gain regulatory clearance for its pain-relief system in the United States, according to a NASDAQ report.
Here are five things to know about the IPO:
1. The company submitted a confidential draft to the Securities and Exchange Commission in August and another revised registration statement in September. Companies with revenue under $1 billion can keep filings confidential until they're ready to market shares under the JOBS Act of 2012.
2. Nevro submitted a premarket approval application to the FDA in June for their pain relief system.
3. The company hopes for a commercial launch of the pain system by early 2016, pending FDA approval.
4. In 2008, Nevro raised $22 million and then Johnson & Johnson Development Corp., led another financing round with $58 million in 2011. J&J Development also participated in a 2013 round of financing that reached $48 million.
5. J.P. Morgan and Morgan Stanley are joint book-running managers for the IPO.
6. Nevro plans to raise $115 million in the IPO currently, but that number will likely change. The company is listed on the New York Stock Exchange under NVRO.
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