Offering conducted by Piper Jaffray, William Blair and Bryan, Garnier
By Devika Patel
Knoxville, Tenn., Oct. 10 - LDR Holding Corp. said the underwriters for its initial public offering of stock opted to exercise the deal's $11.25 million greenshoe in full for total proceeds of $86.25 million. The deal was announced on Aug. 26 and priced for $75 million with the greenshoe on Wednesday.
The company sold 5.75 million common shares at $15.00 apiece. Of the shares, 750,000 were part of the fully exercised greenshoe.
Piper Jaffray & Co., William Blair & Co., LLC and Bryan, Garnier & Co. were the joint bookrunners.
Settlement is expected on Oct. 15.
Proceeds will be used to launch Mobi-C in the U.S. market, to expand sales and marketing efforts and to repay debt under the company's loan facility with Escalate Capital Partners.
Based in Austin, Texas, LDR is a global medical device company. The company intends to list its common stock on the Nasdaq under the symbol "LDRH."
| Issuer: | LDR Holding Corp.
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| Issue: | Common stock
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| Amount: | $86.25 million (including $11.25 million greenshoe)
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| Shares: | 5.75 million
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| Price: | $15.00
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| Warrants: | No
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| Bookrunners: | Piper Jaffray & Co., William Blair & Co., LLC and Bryan, Garnier & Co.
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| Co-managers: | Cowen and Co., JMP Securities LLC and Stephens Inc.
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| Announcement date: | Aug. 26
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| Pricing date: | Oct. 9
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| Settlement date: | Oct. 15
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| Stock exchange: | Nasdaq: LDRH
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