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Financings in Brief: Metra Biosystems

This article was originally published in The Gray Sheet

Executive Summary

Metra Biosystems: Completes a secondary stock offering of 2 mil. shares for $13.50 each. Metra, which filed a registration statement for the offering in March, plans to use proceeds for "working capital and general corporate purposes, including expanding sales and marketing efforts," and funding of product launches, clinical studies, research and development and complementary technology or business acquisitions, the firm says. In addition to marketing its current products for detection and management of metabolic bone diseases and disorders, Metra is actively pursuing the development of a range of new products including cartilage, bone and connective tissue disorder tests. The offering was underwritten by Cowen & Co., Robertson, Stephens & Co. and Hambrecht & Quist...
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