Cholestech scales down public offering:
This article was originally published in Clinica
Cholestech has sold 2.5 million shares in a public offering. The US manufacturer of point-of-care diagnostics has sold less shares at a lower price than envisaged in the May prospectus (see Clinica No 709, p 13). At $5 a share, the offering has raised just over $10 million net for Cholestech, which intends to repay debt, fund R&D and use funds for general working purposes. After the offering about 10.6 million shares will be outstanding. The underwriters have been given an over-allotment option of an additional 375,000 shares.