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OrthoPediatics’ stock rockets in its public debut

Shares of OrthoPediatics Corp. were trading 50% above the initial public offering price, in their public debut. The maker of medical devices for use in the pediatric orthopedic market’s shares opened at $18 at 10:53 a.m. ET, or 38.5% above its $13 IPO price. Since then, it has traded as low as $17.17 and as high as $20.90. The company offered 4 million shares, to raise $52 million. Piper Jaffray and Stifel are lead bookrunners on the deal, with William Blair acting as lead manager and BTIG acting as co-manager. The stock debuts at a time when the SPDR Health Care Select Sector ETF has climbed 4.0% over the past three months, but underperformed the S&P 500’s 4.5% over the same time.

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