Andrey Tolkachev
Medical device maker Monogram Orthopedics (NASDAQ:MGRM) stock soared 91% following a $17M initial public offering.
Shares of Monogram opened at 11:10 a.m. ET at $10.15. The stock had shot up to $13.80 by approximately 11:25 a.m. ET, up 91% from its offering price of $7.25, according to Yahoo Finance data.
Monogram went public via a Regulation A+ IPO, a type of offering created under the JOBS Act to give small companies better access to capital. Other past Reg A+ IPOs include Chicken Soup for the Soul Entertainment (CSSE) and Knightscope (KSCP).
The company said it sold 2.4M shares priced at $7.25, which raised around $17.2M. The offering closed on Wednesday.
Digital Offering served as lead managing selling agent, with R.F. Lafferty as syndicate manager. Selling group members included Cambria Capital, DealMaker Securities and OpenDeal Broker.
Based in Austin, Texas, Monogram is a developer of orthopedic implants, tissue ablation tools, robotic surgical equipment and related software.
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