In this paper we will discuss about the initial public offer issued by Mako Surgical Corp. The
Mako Surgical IPO launched its IPO in February of this year. Mako wants to repay the debts and fund its research and development programs by issuing an IPO.
Mako Surgical Corp., a producer of advance medical devises for orthopedic surgeries, especially knee surgery, planned to issue their initial public offer (IPO) in September 2007. It wanted to sell almost 85.25 million dollars in securities.
The company had been established in 2004. It is the maker of the well known MAKO Tactile Guidance System. The company has over 250 patents in the area of robotic surgery, robotics, image guided implants, haptics, and computer guided surgery to its credit.
- Mako Surgica finally issued its IPO in February 2008. It released 5.1 million shares for the public and the price ranged between 14 to 16 dollars per share.
- However, the price range may change in the coming months. The company has indicated that the new price range will be 10 to 11 dollars per share.
- The company has given its underwriters a month time to buy 698,333 shares. Mako's stock will be traded under the symbol "MAKO" on NASDAQ worldwide market.
- The aim of the company is to collect 68.4 million dollars through its public issue. It will use this money mainly for research and development. Moreover, Mako has borrowed 4 million dollars from the International Business Machines Corp. Therefore, the company wants to repay this debt through the IPO.