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Novadaq Technologies Inc Announces Pricing of Approximately $105 Million Offering of Common Shares

Thursday, 24 Oct 2013 09:00am EDT 

Novadaq Technologies Inc announced that it has priced the underwritten public offering of 6,250,000 newly issued common shares at a public offering price of USD16.75 per share. The gross proceeds to Novadaq, before underwriting discounts and other offering expenses, are expected to be approximately USD105 million. Piper Jaffray & Co. is acting as sole underwriter for the offering. Novadaq intends to use the net proceeds from this offering for general corporate purposes, including funding potential future acquisitions, capital expenditures, the investments required to commercialize PINPOINT and LUNA, the procurement of raw material supply and for future research and development of new product hardware and software and new imaging molecules such as those required for nerve imaging. The Company may use a portion of the net proceeds to acquire or invest in complementary businesses, technologies or assets. The closing of the Offering is expected to occur on or about October 29, 2013. 

Company Quote

0.08 +0.44%
30 Jan 2015