Natus Medical greenshoe fully exercised for total $30.76 million issue of 2.645 million shares

By Laura Lutz

Des Moines, Aug. 23 - Natus Medical Inc. announced that Roth Capital Partners, the underwriter of its recent stock offering, exercised its greenshoe for 345,000 shares, bringing the total offering size to 2.645 million shares for $30.76 million.

The deal priced as a $26.75 million sale of 2.3 million shares at $11.63 per share on Aug. 17.

D3 Family Fund LP, D3 Family Bulldog Fund LP and D3 Offshore Fund LP bought 350,000 of the shares. No underwriting commissions were paid on this part of the sale.

Natus will use the proceeds for general corporate purposes, which may include acquisitions, capital expenditures or additions to working capital.

The company said it might also use part of the proceeds to repay the $7.5 million outstanding on its senior secured credit facility with Wells Fargo Bank.

Natus is a San Carlos, Calif., provider of health care products used for screening, detection, treatment, monitoring and tracking of common medical ailments such as hearing impairment, neurological dysfunction, epilepsy, sleep disorders, newborn jaundice and newborn metabolic testing.

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