Austin’s LDR Holding boosts size of stock offering

May 13, 2014
Austin American Statesman

Austin-based medical device company LDR Holding Corp. has raised the size of its planned follow-on stock offering from 900,000 shares to 1.3 million shares, according to a securities filing


LDR Holding became a publicly traded company in October, raising $77.5 million after expenses through an initial public offering of stock


In April, LDR Holding said that it would net $23.1 million by selling 900,000 shares at $27.90 a share


The company did not say how much it would net by selling 1.3 million shares at up to $24.76 a share. Before expenses, the deal would generate up to $32.1 million


LDR Holding plans to use the net proceeds from the offering to expand its sales and marketing efforts and invest in research and development, as well as potentially acquiring or investing in outside products, technology or businesses, according to securities filings


Existing shareholders expect to sell 2.5 million shares of common stock in the offering, while underwriters have the option to purchase an additional 572,550 shares, according to securities filings


LDR Holding designs and sells surgical technologies to treat spinal disorders, with specialized technology for the lumbar and cervical areas


The company was founded in 2000 as LDR Medical in France, where it made artificial discs for spinal surgeries. It opened an office in Austin in 2004 called LDR Spine


It consolidated the two businesses in 2006 into LDR Holding Corp., which is headquartered in Austin


LDR Holding sells its devices in 25 countries and has offices in Germany, Spain, China, South Korea and Brazil


LDR sells its devices in 25 countries and has offices in Germany, Spain, China, South Korea and Brazil


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