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Financings in Brief: Innovasive Devices, Inc.

This article was originally published in The Gray Sheet

Executive Summary

Innovasive Devices, Inc.: Developer of open-surgical and minimally invasive tissue repair systems files registration statement with SEC for an initial public offering of 1.9 mil. shares, expected to be priced between $11 and $13 each. Proceeds from the offering are expected to be used to fund research and development, an expansion of sales and marketing, an increase in manufacturing capacity, and for working capital and general corporate purposes, the firm says. Underwriters Alex. Brown and Piper Jaffray have an over-allotment option to buy 285,000 additional shares...

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