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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Sat., May. 8, 5:49 AM

Slide #25. SeaSpine Holdings Corporation Secondary Offering

Company: SeaSpine Holdings Corporation (NASDAQ:SPNE)
Date announced: 4/15/2021
Shares Offered: 4,500,000
Date of Pricing: 4/15/2021
Price Per Share: $19.50
Secondary Offering Details: SeaSpine Holdings Corporation (NASDAQ: SPNE) ("SeaSpine" or the "Company"), a global medical technology company focused on surgical solutions for the treatment of spinal disorders, announced today that it has commenced an underwritten public offering of shares of its common stock. All of the shares in the offering are to be sold by SeaSpine. -updated 4/15- SeaSpine Holdings Corporation (NASDAQ: SPNE) ("SeaSpine" or the "Company"), a global medical technology company focused on surgical solutions for the treatment of spinal disorders, today announced the pricing of its previously announced underwritten public offering of 4,500,000 shares of its common stock at a public offering price of $19.50 per share. The gross proceeds to SeaSpine, before deducting the underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $87.8 million. The offering is expected to close on or about April 20, 2021, subject to customary closing conditions.Piper Sandler & Co., Canaccord Genuity LLC and Stifel are acting as joint book-running managers, Truist Securities, Inc. is acting as lead manager and BTIG, LLC, Cantor Fitzgerald & Co. and Ladenburg Thalmann & Co. Inc. are acting as co-managers for the offering. SeaSpine has granted the underwriters a 30-day option to purchase up to an additional 675,000 shares at the public offering price, less underwriting discounts and commissions.

SeaSpine Holdings is a medical technology company focused on the design, development and commercialization of surgical solutions for the treatment of patients with spinal disorders. Co.'s products include: orthobiologics, which include particulate and fibers-based demineralized bone matrices, collagen ceramic matrices, demineralized cancellous allograft bone and synthetic bone void fillers; and spinal implants, which consist of a line of products for spinal decompression, alignment, and stabilization. Co.'s development pipeline consists of modular minimally invasive surgery, additional applications for its NanoMetalene technology, and extensions of its orthobiologics product offerings.

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Strong Buy (4.00 out of 4)
81st percentile
(ranked higher than approx. 81% of all stocks covered)

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