Zimmer Biomet, a medical device maker based in Indiana, announced Tuesday it was initially pricing its secondary offering of 11.1 million common shares at $115.85.
Shares of the company dropped about 1.5 percent to about $116 a share.
The offering is being underwritten by Goldman Sachs and JPMorgan Chase and is expected to close June 16.
The company recently announced
Zimmer Biomet makes reconstructive surgical devices such as hip replacement products.
ZBH in 2016