Carlsmed, Inc.

Carlsmed, Inc. (CARL) priced its initial public offering on Jul 24, 2025 at $15.00 per share, within its $14.00–$16.00 range, raising $100.5M, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $397.7M. Latham & Watkins advised the underwriters.

CARLSMED, INC. is a commercial-stage medical technology company offering AI-enabled personalized spine surgery solutions. Its aprevo Technology Platform combines AI software, interbody implants custom designed for each patient's anatomy, and single-use surgical instruments, aimed at spine fusion surgery.

Status

IPO

Ticker

CARL

Exchange

Nasdaq Global Select

Priced

Jul 24, 2025

IPO price

$15.00

Price range

$14.00–$16.00

Raised

$100.5M

Market cap at IPO price

$397.7M

First filed

Jun 26, 2025

Underwriters' counsel

Latham & Watkins

Sector

Healthcare

Country / state

CA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.