SPNE - SeaSpine raises $88M via equity offering

SeaSpine Holdings (SPNE) has priced its public offering of 4.5M common shares at $19.50/share, for expected gross proceeds of ~$87.8M.Underwriters' over-allotment is an additional 675K shares. Net proceeds will be used to finance the acquisition of 7D Surgical and for general corporate purposes.Piper Sandler, Canaccord Genuity and Stifel are joint book-running managers. Truist Securities is acting as lead manager.Closing date is April 20.In late March, the company announced acquisition of 7D Surgical for $110M.Shares down 6.8% after-hours. Yesterday's close was $20.93.Previously (April 15): SeaSpine under pressure on stock offering

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SeaSpine raises $88M via equity offering