ConforMIS prices $135m IPO

ConforMIS yesterday priced its initial public offering at $15 per share, for total proceeds of $135 million.

The 9-million-share IPO also includes a 1.35-million underwriters over-allotment option, Bedford, Mass.-based ConforMIS said.

Earlier this month the company set the terms for its forthcoming initial public offering, saying it plans to float 9 million shares at $14 to $16 apiece.

Bedford, Mass.-based ConforMIS said last month that the IPO could bring in as much as $172.5 million.

The company plans to trade on the NASDAQ exchange today under the “CFMS” symbol. The company originally filed confidentially March 20, according to the SEC.

The company plans to file for FDA approval of its customized hip implant this year, according to a regulatory filing.

“We expect to submit an application for clearance of iTotal Hip, our 1st customized hip replacement implant, to the U.S. Food & Drug Administration, or FDA, in 2015,” ConforMIS said.

J.P. Morgan and Deutsche Bank are the joint bookrunners on the IPO, with Wells Fargo Securities, Canaccord Genuity and Oppenheimer & Co. acting as co-managers.

ConforMIS said it employs 86 sales reps in the U.S., Germany and the U.K. The company reported sales of $48.2 million last year, a 39% increase over 2013, and said 1st-quarter revenues were $14.7 million, up 36% over Q1 2014.

Last month ConforMIS and Wright Medical (NSDQ:WMGI) buried the hatchet in a patent infringement dispute over customized instrumentation technology.

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