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Tornier NV Announces Follow-On Offering Of Ordinary Shares


Tuesday, 7 May 2013 04:02pm EDT 

Tornier NV announced that it has commenced an underwritten public offering of 7.0 million ordinary shares. Of the ordinary shares being offered for sale in the offering, Tornier is offering 4.5 million shares and certain existing shareholders are offering 2.5 million shares. The selling shareholders include funds associated with affiliates of Warburg Pincus LLC and The Vertical Group, L.P. In connection with the offering, the Company and the selling shareholders expect to grant the underwriters a 30-day option to purchase up to 1.05 million additional ordinary shares at the public offering price. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. 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 will serve as joint bookrunning managers for the offering. 

Company Quote

25.46
-0.22 -0.86%
26 Dec 2014