Cynosure Closes Recent Public Offering
Cynosure, Inc. (NASDAQ: CYNO) today announced the closing of its previously announced underwritten registered public offering of class A common stock. The Company also announced that Leerink Swann LLC, the sole underwriter for the offering, exercised in full its option to purchase an additional 240,000 shares of class A common stock from the Company and an additional 240,000 shares of class A common stock from El.En. S.p.A., as selling stockholder, at the public offering price, less underwriting discounts and commissions. As a result of this option exercise, the total number of shares of class A common stock sold in the offering was 3,680,000 shares. The Company received aggregate net proceeds, after deducting underwriting discounts and commissions and other estimated offering expenses, of approximately $55.35 million.
The Company intends to use the net proceeds from the shares sold in the offering for general corporate purposes and to fund its potential acquisition of complementary products, technologies or businesses. The Company did not receive any proceeds from the sale of the shares by El.En. S.p.A.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.