Bookrunners Piper Jaffray and Stifel Nicolaus Weisel assist with sale
By Devika Patel
Knoxville, Tenn., April 3 - Novadaq Technologies, Inc. said it priced a $35.08 million public sale of stock with a $5.26 million greenshoe. The deal was announced Monday.
The company will sell 6.1 million common shares at $5.75 apiece. The price per share is a 12.88% discount to the April 2 closing share price of $6.60.
Piper Jaffray & Co. and Stifel Nicolaus Weisel are the joint bookrunners, and JMP Securities LLC and Rodman & Renshaw, LLC are the co-managers.
Settlement is expected April 9.
Proceeds will be used to commercialize Pinpoint, the minimally invasive version of the company's SPY technology, and for general corporate purposes.
Toronto-based Novadaq develops medical imaging systems and real-time image-guided therapies.
Issuer: | Novadaq Technologies, Inc.
|
Issue: | Common shares
|
Amount: | $35,075,000
|
Greenshoe: | $5,261,250
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Shares: | 6.1 million
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Price: | $5.75
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Warrants: | No
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Bookrunners: | Piper Jaffray & Co. and Stifel Nicolaus Weisel
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Announcement date: | April 2
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Pricing date: | April 3
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Settlement date: | April 9
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Stock symbol: | Nasdaq: NVDQ
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Stock price: | $6.60 at close April 2
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Market capitalization: | $199.89 million
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