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Minrad greenshoe exercised, raising stock issue to $37.375 million
By Lisa Kerner
Charlotte, N.C., June 8 - Minrad International, Inc. said the underwriters of its recent public offering of 10 million shares have exercised their over-allotment option to purchase an additional 1.5 million shares at $3.25 per share, or $4.875 million, raising the deal to $37.375 million.
Proceeds from the sale of these additional shares will be used for general corporate purposes.
Oppenheimer & Co. acted as lead managing underwriter of the offering. KeyBanc Capital Markets and Maxim Group LLC acted as co-managing underwriters.
Minrad priced the original 10 million shares at $3.25 after the close on May 23.
Located in Buffalo, N.Y., Minrad is an interventional pain management company with real-time image guidance and anesthesia and analgesia product lines.
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