March 14, 2014 by Arezu Sarvestani
Spinal surgery devices maker K2M Group Holdings hopes to raise as much as $100 million through its impending initial public offering, according to registration documents filed with the SEC.
The Virginia -based company has yet to reveal per-share pricing and other details of the IPO, but has said that it hopes to use the funds to wipe out some debts and pay out some dividends. The company said that it owes about $22.3 million in outstanding debt on its shareholder notes, $23.5 million on an outstanding credit facility and $15.7 million in unpaid dividends on Series A and B preferred stock. Read more
March 17, 2014 by Arezu Sarvestani
Biolase came under fire by its largest shareholder, the activist investment firm Oracle Partners, which accused Biolase chairman & CEO Federico Pignatelli of manipulating the company’s board of directors.
Oracle, which owns 16.4% of Biolase’s shares, filed a lawsuit seeking court-mandated changes to the board as well as a temporary restraining order requiring that board members seek approval before taking any actions. Oracle responded that it will respond to Oracle in court and that it plans to address recommended board changes “in due course.” Read more