The Washington Post

Leesburg’s K2M hopes to raise $136 million in IPO

K2M, a Leesburg company that makes implants, instruments and other products to repair spinal injuries, said in a new filing with the Securities and Exchange Commission that it hopes to raise about $136 million in a coming initial public offering.

In the April 22 filing, K2M said plans to offer 8.825 million shares, priced between $16 and $18 a share.

A price of $17 per share should yield $135.9 million in net proceeds, the company said.

The proceeds would be used to reduce debt and expand the company’s global distribution network.

The shares would trade on the Nasdaq under the ticker symbol “KTWO.” The company said it had revenue of $157.6 million and losses of $37.9 million in 2013, largely a function of building out its worldwide operations. K2M markets and sells products in the United States and 28 other countries, with a salesforce totaling about 150 people.

K2M Group Holdings was founded 10 years ago by a group of businessmen, including Leesburg investors Eric Major and Lewis Parker. The company takes its name from the second-highest mountain on Earth, and many of its products for treating injuries and medical conditions and for stabilizing the spine are named after mountains.

The company’s name also has another meaning: It’s a reference to the second career of co-founder John Kostuik, the chairman and chief medical officer who was a professor of orthopedic surgery at the Johns Hopkins University School of Medicine.

Parker is owner of Willowcroft Farm Vineyards in Leesburg.

Capital Business is The Post’s weekly publication focusing on the region’s business community. For more Washington business news, go to

Dan Beyers is the founding editor of Capital Business, The Washington Post’s go-to source for news about the region’s business community.
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Last Update: 4:05 PM 02/12/2016(DJIA&NASDAQ)



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