Candela Medical (CDLA) IPO: 8 Things to Know About the Upcoming Offering

Candela Medical (NASDAQ: CDLA), which provides medical devices for aesthetic procedures, is due to make its public debut later this week. Here are 8 key things to know about the upcoming CDLA IPO.

1. Candela Medical IPO Date - Candela Medical will go public this Thursday, October 28. Candela Medical will start trading under the ticker symbol “CDLA” on NASDAQ. Typically, shares that make their public stock market debuts start trading between 10 AM - 2 PM ET.

2. Candela Medical IPO Pricing - Candela Medical expects to price its shares between $16.00 and $18.00.

3. Shares Offered - Candela Medical is looking to sell 14,705,882 of its shares. The S-1 filing shows the number of outstanding shares after IPO offering would be 97,696,738 shares.

4. Candela Medical IPO Valuation - Candela Medical is seeking a valuation of between $1.56 billion and $1.76 billion.

5. Candela Medical IPO Raised Proceeds: At the midpoint of the pricing range, Candela Medical is looking to raise $250 million. The company intends to use raised proceeds to repay the outstanding indebtedness of roughly $97.5 million and for general business purposes.

6. CDLA IPO Underwriters - BofA Securities, Goldman Sachs, Barclays, Baird, Canaccord Genuity, and Stifel are the joint bookrunners on the IPO.

7. Candela Medical Financials - Candela Medical recorded sales of $209 million for the first six months this year, compared to $140 million a year ago. Net income for the period was $15 million while adjusted EBITDA stood at $38 million. For the nine months ended September 30, 2021, the company sees revenue of $322.17-$324.27 million, versus $218.52 million in the same period last year. This represents growth of up to 48.4%.

8. Candela Medical Total Addressable Market (TAM) - According to Markets & Research, the global medical aesthetics market covering injectables, energy-based devices, topicals and other products currently is $12 billion and is projected to grow to $25 billion by 2028, an 11% compound annual growth rate (CAGR). Markets & Research projects that in 2021 there will be almost 100 million aesthetic treatments and procedures performed worldwide.

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