Tactile Systems plans $86.25 million initial public offering of stock

Piper Jaffray, William Blair, Canaccord Genuity to act as underwriters

By Marisa Wong

Morgantown, W.Va., Jan. 25 – Tactile Systems Technology, Inc. is planning an up to $86.25 million initial public offering of common stock, according to an S-1 filing with the Securities and Exchange Commission.

The deal will include a 30-day greenshoe.

Piper Jaffray & Co., William Blair & Co. LLC, Canaccord Genuity Inc. and BTIG LLC are the underwriters.

Proceeds will be used to expand sales and marketing, product development and reimbursement and clinical activities, as well as to pay dividends to preferred stockholders and for working capital and general corporate purposes.

The Minneapolis-based medical technology company has applied to list its common stock on the Nasdaq Global Market under the symbol “TCMD.”

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