Home >> Professional Blog
MiMedx Group, Inc. (NASDAQ: MDXG) announced the pricing of an underwritten public offering of 5,000,000 shares of its common stock at a price to the public of $6.80 per share for gross proceeds of $34.0 million. The net proceeds from the sale of the shares, after deducting the underwriters' discounts and other estimated offering expenses payable by MiMedx, will be approximately $31.6 million. The Company has also granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock to cover over-allotments, if any.
The proceeds of the offering will be used for general corporate purposes, including, but not limited to, research, development and further commercialization of the Company's products, obtaining regulatory approvals, funding of clinical trials, capital expenditures, working capital and future acquisitions of complementary businesses, technology or products, although there currently are no agreements or commitments with respect to any such investment or acquisition. The offering is expected to close on or about December 17, 2013, subject to the satisfaction of customary closing conditions.
Canaccord Genuity Inc. is acting as sole book-running manager for the offering and Craig-Hallum Capital Group LLC is acting as lead manager. Northland Capital Markets and Lake Street Capital Markets, LLC are acting as co-managers.
A shelf registration statement (File No. 333-189785) relating to these securities was filed on July 3, 2013 and declared effective by the Securities and Exchange Commission on July 19, 2013. A preliminary prospectus supplement related to the offering was filed with the Securities and Exchange Commission on December 9, 2013. The securities may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, by contacting the below book-running manager at the following address:
Canaccord Genuity Inc.
Attention: Syndicate Department
99 High Street, 12th Floor
Boston, MA 02110
Telephone: (617) 371-3900
Email: [email protected]
An electronic copy of the prospectus supplement and accompanying prospectus relating to the offering is available on the website of the Securities and Exchange Commission at www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities of MiMedx, and shall not constitute an offer, solicitation or sale of any security in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.