2023-04-24 18:13:08 ET
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Establishment Labs ( NASDAQ: ESTA ) said Monday its preliminary revenue for the first quarter is expected to be about $46.5 million.
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The Seeking Alpha consensus for Q1 revenue is $45.28 million.
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As of March 31, 2023, ESTA’s cash balance is expected to be about $42.8 million, and the principal and interest outstanding under the its credit facility is about $184.0 million.
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In a separate press release , ESTA said it has proposed to offer and sell shares in a public offering.
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The company expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the common shares.
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The offering is subject to market 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.
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Net proceeds from the offering, together with its existing cash, for general corporate purposes, including sales and marketing, R&D, among others.
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Jefferies, J.P. Morgan, Citigroup and TD Cowen are acting as joint book-running managers for the offering. BTIG is acting as co-manager.
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Shares -4.6% at $70 after hours.
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Establishment Labs says preliminary Q1 revenue ~$46.5M, announces stock offering