NxStage greenshoe exercised, raising stock issue to $55.3 million

By Lisa Kerner

Charlotte, N.C., June 12 - NxStage Medical, Inc. said the underwriters of its recent follow-on stock sale have exercised their 825,000 share over-allotment option in full, raising the deal to 6.326 million shares, or $55.3 million.

Net proceeds to NxStage totaled $51.4 million.

NxStage originally priced 5.5 million shares at $8.75 each after the close on June 8.

Merrill Lynch & Co. and JPMorgan were joint book-running managers for the offering. Thomas Weisel Partners LLC and JMP Securities were co-managers.

Located in Lawrence, Mass., NxStage develops, manufactures and markets dialysis systems for the treatment of end-stage renal disease and acute kidney failure.

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