SeaSpine revealed pricing for its public offering of 3.2 million shares of common stock.
Here are five things to know:
1. The pricing for the public offering is $15.50 per share, and the gross proceeds are expected to reach $50.4 million.
2. SeaSpine expects to close the public offering Oct. 15; it is subject to customary closing conditions.
3. The company plans to use proceeds from the offering to repay outstanding borrowings under its credit facility with Wells Fargo Bank, National Association. SeaSpine will also devote proceeds to general corporate purposes, including capital expenditures and administrative expenses.
4. The joint book-running managers for the offering are Wells Fargo Securities, Piper Jaffray & Co., and Cantor Fitzgerald & Co.
5. The underwriters are able to purchase up to an additional 487,500 shares at the public offering price.