Piper Jaffray, William Blair, Canaccord Genuity, BTIG help with sale
By Angela McDaniels
Tacoma, Wash., July 27 – Tactile Systems Technology, Inc. said it will sell 4 million shares of common stock for $10.00 each for a total of $40 million in its initial public offering. The deal has a $6 million greenshoe.
Piper Jaffray & Co., William Blair & Co. LLC and Canaccord Genuity Inc. are the bookrunners. BTIG, LLC is a co-manager.
Proceeds will be used to expand sales and marketing, for product development and reimbursement and clinical activities, as well as to pay dividends to preferred stockholders and for working capital and general corporate purposes.
The Minneapolis-based medical technology company expected its common stock to begin trading on the Nasdaq Global Market on July 28 under the symbol “TCMD.”
| Issuer: | Tactile Systems Technology, Inc.
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| Issue: | Common stock
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| Amount: | $40 million
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| Shares: | 4 million
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| Price: | $10.00
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| Warrants: | No
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| Bookrunners: | Piper Jaffray & Co., William Blair & Co. LLC and Canaccord Genuity Inc.
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| Co-manager: | BTIG, LLC
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| Pricing date: | July 27
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| Settlement date: | Aug. 2
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| Expected listing: | Nasdaq: TCMD
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