K2M Group Holdings Inc. filed for an initial public offering for up to $100 million in common shares, as the medical device maker looks to pay down debt and fund its growth.
K2M produces implants and other items sold mainly to hospitals for use by spine surgeons. It said in its filing that it has commercialized 57 product lines over its 10-year history.
The company said it expects to use some of the proceeds it receives from the offering for general corporate purposes, such as expanding its global distribution network.
K2M posted a net loss of $57.4 million for 2013, although its revenue grew 17% to $157.8 million from the previous year.
The company had said in January that it submitted a draft registration statement for a proposed IPO.
Piper Jaffray & Co., Barclays Capital Inc. and Wells Fargo Securities, LLC are leading the offering, according to the filing.
K2M said it intends to have its stock trade on the Nasdaq under the symbol “KTWO.”