Integra LifeSciences (NSDQ:IART) said yesterday it is planning a $200 million follow-on stock offering.
The offering includes a 30-day over-allotment option to purchase an additional $30 million worth of common shares, Integra LifeSciences said.
The Plainsboro, N.J.-based company said the funds are slated to reduce outstanding borrowings with Integra’s senior credit facility.
J.P. Morgan, Wells Fargo Securities and RBC Capital Markets are slated to be book-runners for the offering, according to the company.
Last week, Integra LifeSciences announced it beat expectations for its 2nd-quarter sales and earnings, but the medical device company still lowered its outlook for the rest of the year. SeaSpine Holdings (NSDQ:SPNE), Integra’s spine business spinout, didn’t fare as well with its Q2 preliminaries, missing expectations with its top-line prediction.