Silk Road Medical Announces Closing of Initial Public Offering
On April 8, 2019, Sunnyvale, California-based Silk Road Medical, a medical device company focused on reducing strokes through minimally invasive technology that safely and effectively treats carotid artery disease through "transcarotid artery revascularization," announced the closing of its initial public offering of 6,000,000 shares of common stock, and the full exercise of the underwriters' option to purchase 900,000 additional shares of common stock from the selling stockholders, at a public offering price of $20.00 per share. The gross proceeds from the offering were approximately $120 million, before deducting underwriting discounts and commissions and estimated offering expenses. Silk Road Medical did not receive any proceeds from the sale of the shares of common stock by the selling stockholders. The shares commenced trading on The Nasdaq Global Market on April 4, 2019, under the ticker symbol "SILK." Wilson Sonsini Goodrich & Rosati represented Silk Road Medical in the offering.
J.P. Morgan Securities and BofA Merrill Lynch acted as joint book-running managers for the offering. BMO Capital Markets and Stifel acted as co-managers for the offering.
The WSGR team that represented Silk Road Medical in the offering includes:
Employee Benefits and Compensation:
For more information, please see Silk Road Medical's press release.