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October 17, 2007
TranS1 Goes Public
TranS1, Inc. is a medical device company focused on developing innovative, minimally invasive surgical procedures for treatment of low back pain. A percutaneous access and fusion system enables lumbar fusion to be performed with complete preservation of the annulus and all paraspinal soft tissue structures. KVP partner Jim Shapiro serves on the board of TranS1. Below, TranS1 reports its initial public offering. It is the fourth IPO in our second fund's portfolio.
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TranS1 Inc. (Nasdaq: TSON) today announced the initial public offering of 5,500,000 shares of common stock at a price of $15.00 per share. TranS1 has granted the underwriters an option to purchase up to an additional 825,000 shares at the initial public offering price to cover over-allotments, if any. The common stock will trade on the NASDAQ Global Market under the symbol "TSON."
Lehman Brothers Inc. and Piper Jaffray & Co. are acting as joint book-running managers for the offering with Cowen and Company, LLC and Wachovia Capital Markets, LLC acting as co-managers.
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