Avedro announced that it has commenced an initial public offering of 5 million shares of common stock. The initial public offering price is currently estimated to be between $14 and $16 per share. Avedro expects to grant the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock at the initial public offering price. Avedro has applied to list its common stock on the Nasdaq Global Market under the ticker symbol “AVDR.”
BofA Merrill Lynch and J.P. Morgan are acting as joint book-running managers for the proposed offering. Cowen, Guggenheim Securities and SVB Leerink are acting as co-managers for the proposed offering.