Bacterin, a bone graft material and coatings for medical applications development company, is offering up common stock.
The company reportedly intends to offer shares of its common stock and warrants to purchase common stock in an underwritten public offering pursuant to an effective shelf registration statement.
Here are five quick facts about the offering:
1. The company expects to use net proceeds from the offering for working capital and general corporate purposes. This could include continued expansion of the company's sales force and increasing inventory levels to support anticipated future growth.
2. Northland Securities is acting as the sole book-running manager for the offering. In March, the company agreed to issue 1.5 million shares of common stock to an affiliate of OrbiMed after OrbiMed provided $4 million financing.
3. The offering is being conducted pursuant to an effective shelf registration statement on file with the Securities and Exchanges Commission and a prospectus supplement relating to the offering will be filed with the SEC.
4. On July 1, the company appointed Robert Di Silvio president of the company. Mr. Di Silvio has 30 years of experience in medical industry executive management. The company also appointed Melanie Head vice president of sales earlier this year.
5. The company has released several studies in 2014 thus far, including one on the use of its OsteoSponge Foot & Ankle Arthrodesis and another on the OsteoSelect DBM Putty. In March the company launched OsteoSTX, a biologic orthopedic product.