Silk Road Medical (SILK) IPO Opens 66% Higher

Today's IPO for Silk Road Medical, Inc. (NASDAQ: SILK) opened for trading at $33.15 after pricing 6,000,000 shares of common stock at a public offering price of $20.00 per share.

In addition, the selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock at the initial public offering price, less the underwriting discounts and commissions.

J.P. Morgan Securities LLC and BofA Merrill Lynch are acting as joint book-running managers for the offering. BMO Capital Markets and Stifel are acting as co-managers for the offering.

Silk Road Medical, Inc. is a medical device company located in Sunnyvale, California, that is focused on reducing the risk of stroke and its devastating impact. The company has pioneered a new approach for the treatment of carotid artery disease called TransCarotid Artery Revascularization (TCAR). TCAR is a clinically proven procedure combining surgical principles of neuroprotection with minimally invasive endovascular techniques to treat blockages in the carotid artery at risk of causing a stroke.

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