Leerink Swann is the underwriter; proceeds fund corporate purposes
By Devika Patel
Knoxville, Tenn., Nov. 16 - Cynosure, Inc. said it priced a $53.3 million public offering of stock with a $4.92 million greenshoe. The deal was announced Tuesday.
The company will sell 2.6 million class A common shares at $20.50 apiece. The price per share is a 3.3% discount to the Nov. 15 closing share price of $21.20.
Leerink Swann LLC is the underwriters.
Settlement is expected Nov. 21.
Proceeds will be used for general corporate purposes and to fund the company's potential acquisition of complementary products, technologies or businesses.
The Westford, Mass.-based company makes laser systems to remove hair, treat vascular lesions, rejuvenate skin through the treatment of shallow vascular lesions and pigmented lesions and temporarily reduce the appearance of cellulite.
| Issuer: | Cynosure, Inc.
|
| Issue: | Class A common shares
|
| Amount: | $53.3 million
|
| Greenshoe: | $4.92 million
|
| Shares: | 2.6 million
|
| Price: | $20.50
|
| Warrants: | No
|
| Underwriter: | Leerink Swann LLC
|
| Announcement date: | Nov. 13
|
| Pricing date: | Nov. 16
|
| Settlement date: | Nov. 21
|
| Stock symbol: | Nasdaq: CYNO
|
| Stock price: | $21.20 at close Nov. 15
|
| Market capitalization: | $289.67 million
|
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