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Financings In Brief

This article was originally published in The Gray Sheet

Executive Summary

Hologic: Planned secondary offering of up to 3 mil. shares of common stock will be used in part to fund continued development of the firm's second-generation, full-field digital mammography system using DirectRay direct-to-digital technology, the firm says Nov. 19 ("1The Gray Sheet" Nov. 5, 2001, p. 24). A PMA supplement filing is anticipated in the first quarter of 2002. A portion of the net proceeds also will be used to pursue approval, as well as for R&D and general corporate purposes, the firm says. Needham & Company is acting as underwriter for the offering. Separately, the firm plans to eliminate about 80 employees and take a roughly $1 mil. restructuring charge in the first quarter of fiscal 2002 (ending Dec. 29) related to closure of a manufacturing facility in Littleton, Massachusetts and relocation of certain operations to its headquarters facility in Bedford. The move is in line with a previously announced plan to phase-out non-core and unprofitable product lines such as conventional radiographic systems...
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