SPNE - SPNE STOCK NEWS

SeaSpine Holdings Corporation (NASDAQ: SPNE) reported Q1 2021 financial results with total revenue of $42.0 million, an increase of 16% year-over-year. U.S. revenue rose 18% to $37.5 million, driven by a 29% increase in spinal implants revenue and a 12% increase in orthobiologics revenue. The company initiated launches of new 3D-printed implant systems and announced a $110 million acquisition of 7D Surgical. Despite a net loss of $12.7 million, the outlook for 2021 remains strong, projecting revenues between $200 million and $205 million, a growth of 30% to 33%.

SeaSpine Holdings Corporation (NASDAQ: SPNE) will release its first quarter financial results on May 3, 2021, after market close. The management team will host a conference call and webcast at 1:30 PM PT. Interested parties can join the call by dialing (877) 418-4766 domestically or (614) 385-1253 internationally, using Conference ID: 1036925. SeaSpine specializes in surgical solutions for spinal disorders, offering a range of orthobiologics and spinal implants. The company operates in the U.S. and approximately 30 other countries.

SeaSpine Holdings Corporation (NASDAQ: SPNE) has announced the limited commercial launch of its 3D-printed WaveForm TO Interbody System designed for lumbar interbody fusion procedures. This innovative system supports both PLIF and TLIF techniques, enhancing surgical versatility with its comprehensive instrumentation compatible with the existing Reef TO system. The WaveForm TO features a unique porous design aimed at optimizing fusion and improving surgical outcomes. SeaSpine plans additional launches in the 3D-printed interbody space within the year, further advancing its product offerings.

SeaSpine Holdings Corporation (NASDAQ: SPNE) has priced its underwritten public offering of 4,500,000 shares at $19.50 per share, aiming for gross proceeds of approximately $87.8 million. The offering is set to close on or about April 20, 2021. Proceeds will finance a $27.5 million acquisition of 7D Surgical and support general working capital. The underwriters have an option to purchase an additional 675,000 shares within 30 days. This offering follows an effective shelf registration statement filed with the SEC on February 4, 2021.

SeaSpine Holdings Corporation (NASDAQ: SPNE) announced an underwritten public offering of common stock, with all shares sold by the company. Piper Sandler, Canaccord Genuity, and Stifel are among the joint book-running managers. The offering aims to raise funds primarily for a $27.5 million acquisition of 7D Surgical and for general working capital. The offering's completion is subject to market conditions. A registration statement was filed with the SEC on February 4, 2021, and a prospectus supplement has been issued.

SeaSpine Holdings Corporation (NASDAQ: SPNE) has announced preliminary financial results for Q1 2021, expecting total revenue between $41.5 million and $42.0 million, a 17%-18% increase year-on-year. U.S. revenue is projected at $37.1 million to $37.5 million, with notable growth in spinal implants (+28%-29%) and orthobiologics (+11%-12%). For the full year, revenue guidance is raised to $200-$205 million due to the pending acquisition of 7D Surgical, expected to enhance EBITDA starting 2022.

SeaSpine Holdings Corporation (NASDAQ: SPNE) announced the appointment of Shweta Singh Maniar to its Board of Directors, effective April 1, 2021. Maniar, a leader in Healthcare & Life Sciences at Google Cloud, is expected to enhance the company's strategy following its recent acquisition of 7D Surgical. This acquisition aims to integrate advanced registration algorithms for improved patient care from pre-operative planning to post-operative analytics. The company also reported the resignation of Kim Commins-Tzoumakas from the Board.

SeaSpine Holdings Corporation (NASDAQ: SPNE) announced its agreement to acquire 7D Surgical, Inc. for $110 million in cash and stock. This acquisition aims to enhance SeaSpine's market position by integrating 7D Surgical's innovative radiation-free navigational system into its existing portfolio. The acquisition is expected to generate immediate revenue growth and expand SeaSpine's presence in the spinal surgical market. The transaction is subject to customary approvals and is projected to close in Q2 2021.

SeaSpine Holdings Corporation (NASDAQ: SPNE) reported record financial results for Q4 2020, achieving $46.4 million in revenue, a 6.2% year-over-year increase. U.S. revenue rose to $42.1 million, driven by spinal implants and orthobiologics. However, annual revenue decreased by 3.0% to $154.3 million, alongside a net loss of $43.2 million for 2020. Despite challenges from the pandemic, SeaSpine launched 19 new products in 2020, contributing to a strong Q4, particularly in the spinal implants sector.