Misonix initiated an underwritten public offering of 1.62 million shares of its common stock Jan. 23, valued at $18.50 per share.
Four insights:
1. Misonix anticipates gross proceeds to reach $30 million.
2. The company will use net proceeds for corporate purposes, including investment in sales and marketing initiatives and funding growth opportunities.
3. Misonix granted underwriters a 30-day option to purchase up to an additional 243,750 shares of its common stock on the same terms and conditions.
4. The offering is expected to close on or about Jan. 27.