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NxStage greenshoe exercised, raising IPO to $63.25 million
New York, Oct. 31 - NxStage Medical Inc. said the underwriters of its initial public offering of common stock exercised the 825,000 share over-allotment option in full, raising the size of the deal to 6.325 million shares.
Proceeds were raised to $63.25 million from $55 million.
NxStage originally priced 5.5 million shares after the close on Oct. 26 at $10 per share, below sweetened price talk of $11 to $12.
The bookrunner was Merrill Lynch & Co.
Lawrence, Mass.-based NxStage is a medical device company that develops and makes dialysis systems. Proceeds are earmarked for working capital, to expand manufacturing and for general corporate purposes.
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