Micrus Endovascular greenshoe exercised in part, lifting IPO to $35.8 million

By Jennifer Chiou

New York, July 6 - Micrus Endovascular Corp. announced its greenshoe was partially exercised, raising the net proceeds of its initial public offering by $2.55 million to $35.8 million.

Micrus Endovascular sold an additional 250,000 shares of common stock at $11.00 per share.

The company priced its IPO June 15 for 3.25 million shares at $11.00 per share, below its estimated range of $12.00 to $14.00 per share. The offering had a 487,500-share greenshoe.

A.G. Edwards was bookrunner and Needham & Co. was co-manager.

The Sunnyvale, Calif.-based company develops and markets implantable and disposable devices for cerebral vascular diseases.

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