K2M Group Holdings, Inc. Announces Pricing of Its Initial Public Offering

LEESBURG, Va., May 7, 2014 (GLOBE NEWSWIRE) — K2M Group Holdings, Inc. (the “Company”), a global medical device company focused on designing, developing and commercializing innovative and proprietary complex spine technologies, techniques and minimally invasive procedures, today announced the pricing of its initial public offering of 8,825,000 shares of common stock at a price of $15.00 per share. In addition, the selling stockholders named in the registration statement have granted the underwriters a 30-day option from the date of the prospectus to purchase up to 1,323,750 additional shares of common stock at the initial public offering price, less underwriting discounts. The Company will not receive proceeds from any exercise by the underwriters of their option to purchase additional shares from the selling stockholders.

The common stock is expected to begin trading on The NASDAQ Global Select Market on May 8, 2014 under the trading symbol “KTWO.”

The Company expects to receive net proceeds from the offering of approximately $120.0 million, after deducting underwriting discounts and estimated offering expenses. The Company intends to use the net proceeds from the offering to retire all indebtedness outstanding under the notes held by certain of its shareholders, to repay all of the outstanding borrowings under its asset-based revolving credit facility, to pay all accumulated and unpaid dividends on its Series A redeemable convertible preferred stock and its Series B redeemable convertible preferred stock, and for working capital and general corporate purposes.

Piper Jaffray & Co., Barclays Capital Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering. William Blair & Company, L.L.C. and Cowen and Company, LLC are acting as co-managers.

The offering of these securities will be made only by means of a prospectus, copies of which may be obtained from Piper Jaffray & Co., Attention: Equity Capital Markets, 800 Nicollet Mall, J12S03, Minneapolis, MN, 55402, via telephone at 800-747-3924 or email at prospectus@pjc.com; Barclays Capital Inc., Attention: Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, via telephone at 888-603-5847 or email at Barclaysprospectus@broadridge.com; and Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, NY, 10152, via telephone at 800-326-5897 or email at cmclientsupport@wellsfargo.com.

The registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the “SEC”). This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About K2M

K2M Group Holdings, Inc. is a global medical device company focused on designing, developing and commercializing innovative complex spine and minimally invasive spine technologies and techniques used by spine surgeons to treat some of the most difficult and challenging spinal pathologies.  K2M has leveraged these core competencies to bring to market an increasing number of products for patients suffering from degenerative spinal conditions.  These technologies and techniques, in combination with a robust product pipeline, enable the company to favorably compete in the global spinal surgery market.

Forward-Looking Statements

Certain statements made in this press release may constitute “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements are based on management’s expectations, estimates, projections, and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. Additional information regarding these factors is contained in the Company’s registration statement on Form S-1 filed with the SEC.

Investor Contact
Westwicke Partners on behalf of K2M Group Holdings, Inc.
Mike Piccinino, CFA or Mark Klausner
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Josh Sandberg

Josh Sandberg is the President and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

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