Bought-deal sale of 4,485,000 shares conducted by Canaccord Genuity
By Devika Patel
Knoxville, Tenn., May 7 - Novadaq Technologies, Inc. said the underwriters for its public offering of stock opted to exercise the deal's $7.55 million greenshoe in full for total proceeds of $57.86 million. The deal priced for $50.31 million with the $7.55 million greenshoe on May 1.
The company sold 4,485,000 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. Of the shares, 585,000 were part of the fully exercised greenshoe.
Canaccord Genuity Inc. was the bookrunner.
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: | $57,856,500 (including $7,546,500 greenshoe)
|
| Shares: | 4,485,000
|
| Price: | $12.90
|
| Warrants: | No
|
| Bookrunner: | 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: | $557.58 million
|
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