Financings in Brief: Imagyn Medical
This article was originally published in The Gray Sheet
Executive SummaryImagyn Medical: Going public via initial offering of 2.5 mil. shares at $11 to $13 each, according to a registration statement filed with SEC. The Laguna Niguel, California-based gynecological and reproductive disorder device firm anticipates net proceeds of approximately $27.1 mil., or $31.3 mil. if underwriters Dillon, Read & Co. and Montgomery Securities fully exercise a 375,000 share over-allotment option. About $7 mil. of the proceeds are earmarked for product introductions, building a sales and marketing network, physician training programs and market development; $5 mil. will go toward R&D; $1.5 mil. will go for purchasing capital equipment; and the remainder will be used for "working capital and general corporate purposes."
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