Aziyo Biologics To Debut On Nasdaq On Oct 8

Silver Spring, Maryland-based Aziyo Biologics is scheduled to go public on the Nasdaq Global Select Market under the symbol “AZYO” on October 8, 2020.

Aziyo Biologics, founded in 2015, is a commercial-stage medical device company developing regenerative medical products through its proprietary tissue processing platforms designed to be similar to natural biological material.

The company has offered to sell 2.94 million shares of common stock in the offering, and the underwriters have an option for 30 days to purchase up to 441 thousand additional shares. The IPO is expected to be priced between $16.00 and $18.00 per share.

Underwriters of the IPO:

Piper Sandler & Co.,?Cowen and Company, LLC, Cantor Fitzgerald & Co., Truist Securities, Inc.

Product Portfolio:

The company’s products can be classified into two categories – Core products and Non-core products.

The core products target the implantable electronic device/?cardiovascular, orthopedic/spinal repair and soft tissue reconstruction markets and they are primarily sold to healthcare providers or commercial partners, such as Boston Scientific and Medtronic.

The non-core products are designed to address the contract manufacturing market and they are sold to corporate customers.

Financial numbers:

For the six months month ended June 30, 2020, the company’s net loss widened to $9.74 million or $15.02 per share from a loss of $6.05 million or $9.38 per share in the prior year.

Revenue for the period decreased to $18.44 million from $19.71 million a year earlier.

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