Silk Road Medical Conducts Initial Public Offering
April 4, 2019—Silk Road Medical, Inc. announced the initial public offering of 6,000,000 shares of common stock opened at a public offering price of $20 per share. This represents all the shares of the company's common stock. The common stock is now trading under the ticker symbol “SILK" on the Nasdaq Global Market.
In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock at the initial public offering price. A registration statement relating to the shares being sold in this offering was declared effective by the Securities and Exchange Commission on April 3, 2019.
The gross proceeds from the offering are expected to be approximately $120 million. The offering is expected to close on April 8, 2019, subject to the satisfaction of customary closing conditions.
Silk Road Medical, located in Sunnyvale, California, has pioneered transcarotid artery revascularization (TCAR) for the treatment of carotid artery disease. TCAR combines surgical principles of neuroprotection with minimally invasive endovascular techniques to treat blockages in the carotid artery at risk of causing a stroke, stated the company.