- Medical aesthetics company Sientra ( NASDAQ: SIEN ) has priced an underwritten public offering of 34.8M shares and accompanying warrants at a combined public offering price of $0.38 per unit.
- The gross proceeds are expected to be $13.2M, and may be used for general working capital purposes.
- The warrants enable the holders to purchase up to an aggregate of 34.8M shares, and carry an exercise price of $0.46 per share.
- The warrants, exercisable immediately, will expire five years following the date of issuance.
- Additionally, the underwriters are granted a 30-day option to purchase up to 5.2M shares and warrants to purchase up to the same number of shares at the public offering price, less underwriting discounts and commissions.
- The offering is expected to close on or about Oct. 25.
- Source: Press Release
For further details see:
Sientra prices $13.2M underwritten public offering