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Financings in Brief: Biopsys

This article was originally published in The Gray Sheet

Executive Summary

Biopsys: Expects net proceeds of $28.5 mil. from initial public offering of 2.25 mil. shares. The Irvine, California-based company filed a registration statement with SEC March 19 for the offering, shares in which are expected to be priced between $13 and $15 each. Robertson, Stephens & Company and Piper Jaffray are underwriting and will retain an option to buy an additional 337,500 shares to cover over-allotments, according to the prospectus. Proceeds from the offering are tabbed to fund an expansion of sales and marketing activities, an increase of manufacturing capabilities for the company's Mammotome biopsy system and MicroMark Clip, and to fund research and development activities, the firm says.
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