Bought-deal sale of 3.9 million shares conducted by Canaccord Genuity
By Devika Patel
Knoxville, Tenn., May 1 - Novadaq Technologies, Inc. priced a $50.31 million public offering of stock with a $7.55 million greenshoe in a prospectus filed Wednesday with the Securities and Exchange Commission.
The company will sell 3.9 million common shares at $12.90 apiece on a bought-deal basis. The price per share is a 4.23% discount to the April 30 closing share price of $13.47.
Canaccord Genuity Inc. is the underwriter.
Settlement is expected May 7.
Proceeds will be used for general corporate purposes, including working capital, sales force expansion, clinical development, strengthening of the company's intellectual property through research and development, capital expenditures, procurement of raw material supply and for future research and development of new product hardware and new imaging molecules.
Toronto-based Novadaq develops medical imaging systems and real-time image-guided therapies.
| Issuer: | Novadaq Technologies, Inc.
|
| Issue: | Common shares
|
| Amount: | $50.31 million
|
| Greenshoe: | $7,546,500
|
| Shares: | 3.9 million
|
| Price: | $12.90
|
| Warrants: | No
|
| Underwriter: | Canaccord Genuity Inc.
|
| Pricing date: | May 1
|
| Settlement date: | May 7
|
| Stock symbol: | Nasdaq: NVDQ
|
| Stock price: | $13.47 at close April 30
|
| Market capitalization: | $543.59 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
