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Financings in Brief: Exogen

This article was originally published in The Gray Sheet

Executive Summary

Exogen: Going public through proposed offering of 2.5 mil. shares at an estimated $12 per share. Projected net proceeds of $27.2 mil. ($31.4 mil. if underwriters' overallotment option is fully exercised) are targeted for: development and clinicals of a mechanical stress device ($8 mil.); development and commercial introduction of expanded applications for the firm's SAFHS Sonic Accelerated Fracture Healing System and engineering enhancements to the device ($6 mil.); expansion of marketing and sales staff and efforts to obtain reimbursement for SAFHS ($4 mil.); and establishment of manufacturing capacity ($1 mil.). The offering is being underwritten by Robertson, Stephens & Company, Cowen & Company and Piper Jaffray.
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