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Bay Area medical company raises $120M in upsized IPO
San Francisco Business Times

Silk Road Medical Inc. is ready for its Wall Street debut Thursday after raising $120 million in an upsized IPO.

The Sunnyvale-based medical device business sold 6 million shares at $20 each, instead of the 4.7 million shares it originally planned to sell for between $15 and $17 apiece. It could get another $18 million if underwriters buy up the shares allotted to them.

Silk Road, which will trade on the Nasdaq with the symbol of “SILK,” is the fourth life sciences IPO from the Bay Area so far this year. The sector has accounted for 45 percent of the IPOs in the past 12 months, by far the most of any industry sector, according to Renaissance Capital.