Financings in Brief: Gynecare
This article was originally published in The Gray Sheet
Executive Summary
Gynecare: Expecting net proceeds of $24.9 mil. from an initial public offering of 2.3 mil. common shares. Gynecare announced Oct. 10 that it had filed a registration statement with SEC for the offering, which will be managed by UBS Securities, Hambrecht & Quist, and Volpe, Welty & Co. The proceeds, based on a projected offering price of $12 per share, will be used to "fund clinical trials, research and development, expansion of manufacturing operations, working capital and general corporate expenses," the firm says.