Bookrunners Piper Jaffray and Stifel Nicolaus Weisel assist with sale
By Devika Patel
Knoxville, Tenn., April 9 - Novadaq Technologies, Inc. said it settled a $40.34 million public sale of stock. The deal was announced April 2 and priced for $35.08 million with a $5.26 million greenshoe on April 3.
The company sold 7,015,000 common shares at $5.75 apiece. Of the shares, 915,000 were part of the fully exercised greenshoe.
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 were the joint bookrunners, and JMP Securities LLC and Rodman & Renshaw, LLC were the co-managers.
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: | $40,336,250 (including $5,261,250 greenshoe)
|
| Shares: | 7,015,000
|
| Price: | $5.75
|
| Warrants: | No
|
| Bookrunners: | Piper Jaffray & Co. and Stifel Nicolaus Weisel
|
| Announcement date: | April 2
|
| Pricing date: | April 3
|
| Settlement date: | April 9
|
| Stock symbol: | Nasdaq: NVDQ
|
| Stock price: | $6.60 at close April 2
|
| Market capitalization: | $199.89 million
|
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