By Sheri Kasprzak
New York, Oct. 17 - Natus Medical Inc. said it has arranged a private placement for $7,128,000 to partially fund its acquisition of Bio-logic Systems Corp.
Natus plans to issue 600,000 shares at $11.88 each to the D3 Family Funds.
Under the terms of the acquisition, Natus will buy all of Bio-logic's outstanding shares at $8.77 each. The merger is expected to close in January.
To further fund the transaction, Natus also received a loan from Wells Fargo Bank NA for $10 million.
Natus, based in San Carlos, Calif., develops and markets products for the detection, treatment and tracking of common disorders in newborns and children.
| Issuer: | Natus Medical Inc.
|
| Issue: | Stock
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| Amount: | $7,128,000
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| Shares: | 600,000
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| Price: | $11.88
|
| Warrants: | No
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| Investor: | D3 Family Funds
|
| Pricing date: | Oct. 17
|
| Stock price: | $12.03 at close Oct. 17
|
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