In connection with the offering, Cardiovascular Systems (CSI) expects to grant underwriters a 30-day option to purchase up to an additional 15% of the shares being offered as well. All shares will be sold by CSI, according to a news release. There is no assurance as to whether or when the offering may be completed.
St. Paul, Minn.-based CSI said it plans to use the proceeds for working capital and general corporate purposes, which may include the expansion of marketing programs, international expansion, new product development, clinical studies and publications, investments, acquisitions or general working capital needs.
Barclays and SVB Leerink are acting as joint book-running managers for the offering from the vascular and coronary disease treatment developer.