AI Spine Surgery Firm Carlsmed Shares Fall 3.3% After IPO (1)

Carlsmed Inc. shares fell 3.3% after the medical technology company raised $100.5 million in an initial public offering.

Shares in the firm closed at $14.50 each on Wednesday in New York, below the IPO price of $15 apiece. Carlsmed, which uses AI to personalize spine surgery, sold 6.7 million shares after offering them for $14 to $16 each.

The trading gives the Carlsbad, California-based Carlsmed a market value of $384 million based on the outstanding shares listed in the filing.

Affiliates of B Capital Group and US Venture Partners are Carlsmed’s largest backers. After the offering, they were set to ...