Restoration Robotics (HAIR) plans to raise $25 million in an initial public offering on Friday, October 13th, IPO Scoop reports. The company will be issuing 3,100,000 shares at a price of $7.00-$9.00 per share.
In the last twelve months, Restoration Robotics generated $20.1 million in revenue and had a net loss of $21 million.
National Securities Corporation acted as the underwriter for the IPO and Roth Capital Partners and Craig-Hallum Capital Group were co-managers.
Restoration Robotics provided the following description of their company for its IPO: “We are a medical technology company developing and commercializing a robotic device, the ARTAS System, that assists physicians in performing many of the repetitive tasks that are a part of a follicular unit extraction surgery, a type of hair restoration procedure. We believe the ARTAS System is the first and only physician-assisted robotic system that can identify and dissect hair follicular units directly from the scalp and create recipient implant sites. “.
Restoration Robotics was founded in 2002 and has 91 employees. The company is located at 128 Baytech Drive, San Jose, CA 95134, US and can be reached via phone at (408) 883-6888 or on the web at http://www.restorationrobotics.com.
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