5 key concepts on Amedica's $13M IPO close

Written by Laura Dyrda | December 08, 2014 | Print  |

Amedica has closed its underwritten public offering that began on Nov. 26, 2014.

"We are delighted that this public offering attracted such quality institutions and individual investors," said Robert Keyser Jr., CEO of Dawson James Securities. "The commitment to this offering demonstrates the strength of Amedica's growth potential and we are pleased to leverage our broad capital markets capabilities to support that growth."

 

Here are five things to know about the close:

 

1. Each unit was one Amedica common stock share and one warrant to purchase one share of common stock. The warrants have an excise price of $1.48 per share and can be excised on a cashless basis. They will expire five years from the day they were issued.

 

2. Amedica issued more than 11.4 million units. The price was $1.14 per unit. The company sold an additional 1.7 million warrants pursuant to the exercise, in part, of the underwriters' over-allotment option.

 

3. Gross proceeds to Amedica were approximately $13 million before deducting underwritten discounts and commissions, and estimated offering expenses payable by Amedica.

 

4. Dawson James Securities acted as the sole book-running manager for the offering.

 

5. The capital raised during this public offering will support ongoing research and development efforts and business operations as the company continues to implement a strategy to advanced direct sales of silicon nitride through their own channel while "providing a disruptive and superior material tot the global market through private label and OEM relationships, positioning us for accelerated growth in the coming years," said Amedica CEO Sonny Bal, MD.

 

"We welcome our new investors and look forward to strengthening our silicon nitride technology platform," said Dr. Bal.

 

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