Published on 5/24/2006 in the Prospect News Biotech Daily.
New Issue: AngioDynamics raises $57.8 million in follow-on of 2.4 million shares at $24.07 each
By Ronda Fears
Memphis, May 24 - AngioDynamics, Inc. raised $57.77 million from a follow-on offering of 2.4 million shares at $24.07 each, pat with Tuesday's close, via bookrunner RBC Capital Markets.
Queensbury, N.Y.-based AngioDynamics, maker of therapeutic and diagnostic medical devices to treat peripheral vascular disease and other non-coronary diseases, said proceeds would be used to support its growth strategy, including possible acquisitions, working capital and other general corporate purposes.
Issuer: | AngioDynamics, Inc.
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Issue: | Follow-on stock offering
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Gross proceeds: | $57.77 million
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Net proceeds: | $54.31 million
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Shares: | 2.4 million
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Greenshoe: | 360,000
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Price: | $24.07 per share
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Bookrunner: | RBC Capital Markets
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Co-managers: | Canaccord Adams, First Albany Capital, KeyBanc Capital Markets
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Pricing date: | May 23
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Settlement date: | May 30
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Stock symbol: | Nasdaq: ANGO
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Stock price: | $24.07 on May 23
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