Proceeds to be used for product development and a human clinical trial
By Devika Patel
Knoxville, Tenn., Dec. 19 – Medovex Corp. said it priced its $8 million initial public offering of units with a $1.2 million greenshoe. The deal was announced on Sept. 8.
The company will sell 1,391,305 units of one common share and one warrant at $5.75 per unit.
The warrants are each exercisable at $6.90 for three years.
Laidlaw & Co. (UK) Ltd. is the bookrunner.
Settlement is expected Dec. 24.
Proceeds will be used for product development, a human clinical trial, regulatory approval costs, general and administrative expenses, working capital and other general corporate purposes.
The Atlanta-based medical device company intends to list its units on the Nasdaq under the symbol “MDVXU.”
| Issuer: | Medovex Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $8 million
|
| Greenshoe: | $1.2 million
|
| Units: | 1,391,305
|
| Price: | $5.75
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $6.90
|
| Bookrunner: | Laidlaw & Co. (UK) Ltd.
|
| Announcement date: | Sept. 8
|
| Pricing date: | Dec. 19
|
| Settlement date: | Dec. 24
|
| Stock symbol: | Nasdaq: MDVXU
|
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