Here are five things to know:
1. The company issued 485,438 new shares at 7.30 euros per share. This corresponds with the weighted average share price over the three trading sessions preceding the Board’s approval of the capital raise on June 3, 2015.
2. The preferential subscription rights were waived in favor of qualified investors and a limited number of investors in the sense of article L411-2 of the French Monetary and Financial Code.
3. The company now has 8.9 million shares outstanding.
4. The company is using proceeds to:
• Strengthen commercial presence in the United States
• Establish a new marketing subsidiary in Germany
• Rebalance the group’s financial structure
5. Long-standing investors as well as Denys Sournac, founder and CEO of Medicrea, participated in the placement.
More articles on orthopedic devices:
DePuy Synthes invests $60M in expanded manufacturing plant in Ireland: 4 things to know
15 things to know about Zimmer Biomet
K2M CFO Gregory Cole sells 38k shares
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