The Fort Lauderdale-based medical device company, which makes the Rio surgical robot for spine surgeries, said it plans to use the proceeds for "commercialization infrastructure" and to cover other corporate expenses.
Piper Jaffray & Co. is managing the offering, according to a press release.
Mako plans to offer the shares at a maximum proposed price of $13.80 apiece, according to a regulatory filing, making the offering potentially worth $42 million.
MAKO shares were trading at $14.00 as of about 10:00 this morning, up 6.0% on the day.
Discovery Equity pares 23% from Cardiovascular Systems stake
Discovery Equity Partners shaved 22.6% from its stake in Cardiovascular Systems (NSDQ:CSII), according to regulatory filings.
The investment bank now owns about 1.4 million shares of CSII, for a 6.6% share of the peripheral artery device maker, down from nearly 1.8 million shares (8.6%) in September.
Cardiovascular Systems posted fiscal 1st-quarter losses of $5.2 million, or 26¢ per share, on sales of $23.3 million during the 3 months ended Sept. 30. That represents increased losses of 35.0% on sales growth of 24.8%.
The Carlyle Group, Blackstone and TPG Capital are all in the hunt for the electronic medical records maker, according to the newswire, which cited "people familiar with the matter."
Semprus lands U.S. Army grant
Teleflex (NYSE:TFX) subsidiary Semprus BioSciences won a $2.3 million research grant from the U.S. Army’s Telemedicine and Advanced Technology Research Center to develop a surface-modified endotracheal tube using the Semprus Sustain nanoscale coating to deliver antimicrobials.
- Edwards Lifesciences (NYSE:EW): Wells Fargo & Co. reaffirms "outperform" rating; UBS downgrades to "sell" from "neutral" rating, cuts price target from $95 to $80.
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