AMSTERDAM--(BUSINESS WIRE)-- Tornier, N.V. (NASDAQ: TRNX), a global medical device company focused on providing surgical solutions to orthopaedic extremity specialists, announced today the closing of the previously announced underwritten public offering of 8.05 million ordinary shares at a public offering price of $16.15 per ordinary share. The shares sold include 1.05 million ordinary shares sold pursuant to the option to purchase additional shares granted by Tornier and certain existing shareholders to the underwriters, which was exercised in full. Tornier received net proceeds from this offering of approximately $78.8 million, after deducting underwriters' discounts and commissions and estimated expenses.
Tornier expects to use the net proceeds from the sale of the newly issued shares for working capital, repayment and refinancing of debt and general corporate purposes, including clinical and product development, capital expenditures and the acquisition of technologies, products or businesses.Tornier will not receive any of the proceeds of the ordinary shares being sold by the selling shareholders.
J.P. Morgan Securities LLC and BofA Merrill Lynch served as joint bookrunning managers, and BMO Capital Markets, Wells Fargo Securities, William Blair & Company, LLC and SG Americas Securities, LLC acted as co-managers for the offering.
Read more: http://investor.tornier.com/releasedetail.cfm?ReleaseID=765174
Tornier Announces Closing of Public Offering of Ordinary Shares and Full Exercise of Underwriters' Over-Allotment Option
Comments are closed.