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Novadaq Floats New Share Offering

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Novadaq (NASDAQ: NVDQ  ) has prescribed itself a $105 million injection of share capital. The company announced it is floating 6.25 million shares of its common stock in an underwritten public issue priced at $16.75 per share. It plans to use its share of the proceeds of the issue for "general corporate purposes," which include the funding of potential future acquisitions, capital expenditures, commercial efforts, the purchase of raw materials, and research and development activities.

Piper Jaffray is the underwriter of the issue, which is expected to close on or about next Tuesday.

At the moment, Novadaq has 48.4 million shares outstanding, and its stock most recently closed at $16.52 per share.

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Eric Volkman

Eric has been writing about stocks and finance since the mid-1990s, when he lived in Prague, Czech Republic. Over the course of a varied career, he has also been a radio newscaster, an investment banker, and a bass player in a selection of rock and roll bands. A native New Yorker, he currently lives in Los Angeles.

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Related Tickers

5/4/2016 11:18 AM
NVDQ $10.34 Down -0.26 -2.45%
Novadaq Technologi… CAPS Rating: No stars