LDR launches 30-day public offering: 5 key notes

Spinal Tech

LDR intends to offer and sell its common stock in an underwritten public offering.

Here are five things to know:

 

1. The company expects to grant underwriters a 30-day option to purchase additional shares of its common stock.

 

2. LDR plans to use net proceeds to continue expanding the sales and marketing efforts in the Untied States and internationally, including the Mobi-C launch in the United States.

 

3. The company also plans to use proceeds of research and development as well as potential complementary technology acquisitions.

 

4. The company will also repay around $18.2 million of debt with the proceeds.

 

5. Piper Jaffray and William Blair are acting as the joint book-running managers for the offering.

 

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