Tornier, manufacturer of orthopedics devices with its U.S. headquarters in Edina, has raised $166 million through an initial public offering, Business Journal reports. The company offered 8.75 million shares at $19, and plans to list on the NASDAQ.

The medical-device maker intends to use the net proceeds to pay down debt and for general corporate purposes. BofA Merrill Lynch and JP Morgan acted as lead managers on the transaction.

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