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Tornier NV Announces Pricing Of Public Offering Of Ordinary Shares

Thursday, 9 May 2013 09:21pm EDT 

Tornier NV announced the pricing of a previously announced underwritten registered public offering of 7.0 million ordinary shares at a public offering price of $16.15 per ordinary share. The offering is expected to close on or about May 15, 2013. Of the 7.0 million ordinary shares being sold in the offering, 4.5 million shares are being sold by Tornier and 2.5 million shares are being sold by certain existing shareholders. The selling shareholders include funds associated with affiliates of Warburg Pincus LLC and The Vertical Group, L.P. In addition, Tornier and the selling shareholders have granted the underwriters a 30-day option to purchase up to 1.05 million additional ordinary shares at the public offering price, less the underwriting discount. 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 are serving as joint bookrunning managers, and BMO Capital Markets, Wells Fargo Securities, William Blair & Company, LLC and SG Americas Securities, LLC are acting as co-managers for the offering. 

Company Quote

-0.06 -0.24%
11:43am EST