Summit Technology
This article was originally published in The Gray Sheet
Executive Summary
Ophthalmic laser manufacturer plans secondary offering of 1 mil. shares of common stock. The Waltham, Massachusetts-based firm says a registration statement for the offering has been filed with the Securities and Exchange Commission. Proceeds will be used for: "expansion of manufacturing, selling, marketing, service and administrative capabilities"; R&D and regulatory costs; "funding and development of a network of outpatient clinics"; and "potential acquisition of certain intellectual property rights." Summit stock currently is trading in the $23 range. Bear Stearns and Piper Jaffray are underwriting the offering.