Financings In Brief
This article was originally published in The Gray Sheet
Executive Summary
Altus Medical: Maker of the CoolGlide aesthetic laser for hair removal and vascular lesions files $60 mil. initial public offering with the Securities and Exchange Commission Jan. 4. The Burlingame, California company values the laser hair removal market at about $1.3 bil., with the laser-installed base expected to triple over the next three years. Advantages over electrolysis include the rapid treatment of larger target areas and the ability to remove the hair structure without damaging the skin, according to the firm. Funds from the offering will be used for general corporate proceeds, with a portion potentially to be used to acquire complementary products, technologies or businesses. Altus reported revenue of $9.5 mil. in 2000...
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Financings In Brief
Cutera IPO: CoolGlide aesthetic laser manufacturer will use $15 mil. of the expected $38.7 mil. in net proceeds to expand its 40-person sales & marketing team, according to a March 30 1prospectus filed with SEC. Roughly $5 mil. is earmarked for R&D, and the rest will go to "general corporate purposes." Piper Jaffray is lead underwriter for the IPO, which is offering 3.5 mil. shares of Cutera common stock at $14; SG Cowen and RBC Capital Markets are co-managers. The firm intends to trade on Nasdaq under the symbol "CUTR." Cutera, formerly Altus Medical, first filed to go public in January 2002, but later abandoned the attempt (2"The Gray Sheet" Jan. 28, 2002, p. 17). In Q1 alone, other device and diagnostic firms opting to go public included Digirad, Immunicon, NuVasive, Angiodynamics, Kinetic Concepts, Animus and Novacept...
Financings In Brief
Cutera IPO: CoolGlide aesthetic laser manufacturer will use $15 mil. of the expected $38.7 mil. in net proceeds to expand its 40-person sales & marketing team, according to a March 30 1prospectus filed with SEC. Roughly $5 mil. is earmarked for R&D, and the rest will go to "general corporate purposes." Piper Jaffray is lead underwriter for the IPO, which is offering 3.5 mil. shares of Cutera common stock at $14; SG Cowen and RBC Capital Markets are co-managers. The firm intends to trade on Nasdaq under the symbol "CUTR." Cutera, formerly Altus Medical, first filed to go public in January 2002, but later abandoned the attempt (2"The Gray Sheet" Jan. 28, 2002, p. 17). In Q1 alone, other device and diagnostic firms opting to go public included Digirad, Immunicon, NuVasive, Angiodynamics, Kinetic Concepts, Animus and Novacept...
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