The groups sold a total of 7.4 million shares at $129 a piece, bringing in approximately $960 million. The shares sold made up approximately 3.7% of the company’s total shares, according to an SEC filing.
Neither the company nor its officers will receive any of the cash, Zimmer Biomet said, noting that CEO David Dvorak, CFO Daniel Florin and some directors will be bound by a 30-day “lock-up” period banning them from selling their ZBH shares.
The offering was originally announced August 10, with Goldman, Sachs and J.P. Morgan are the joint book-runners and underwriters for the offering.
Shares have stayed steady, up a minimal 0.3% to trade at $129.78 as of 11:48 a.m. EDT.
Earlier today, Zimmer Biomet said it paid an unspecified amount to acquire CD Diagnostics and its line of immunoassay and biomarker products.
Four years ago, the duo inked a pact that led to the development and marketing of the Synovasure periprosthetic joint infection test, Warsaw, Ind.-based Zimmer Biomet said.