Ra Medical registers for $87m IPO

Ra Medical yesterday registered for an initial public offering worth up to $86.5 million, according to a recently posted SEC filing.

The Carlsbad, Calif.-based company said it plans to list on the New York Stock Exchange under the symbol “RMED,” according to the SEC posting.

Piper Jaffray and Cantor Fitzgerald are acting as joint book runners for the offering, according to the filing.

Ra Medical produces the Dabra atherectomy catheter laser designed to treat patients with peripheral artery disease. The system is designed to destroy arteriosclerotic blockages through the use of radiation ablation, which the company touts as having significant advantages over traditional balloon angioplasty systems.

Ra Medical won FDA 510(k) clearance for the system last May, and CE Mark approval in the European Union in 2016.

The company has not yet released details on the IPO, but had initially planned to launch the offering in February this year.

The post Ra Medical registers for $87m IPO appeared first on MassDevice.

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