South Jordan, Utah-based Merit floated 3.5 million shares at $54 apiece and sold another 525,000 shares in the underwriter’s allotment, for gross proceeds of $217.4 million.
The net proceeds of roughly $204.9 million are slated to repay debt under an existing credit facility, Merit said.
Wells Fargo Securities and Piper Jaffray were joint bookrunners and represented the underwriters in the offering, with Canaccord Genuity, Raymond James, SunTrust Robinson Humphrey, Barrington Research and Sidoti & Co. as co-managers, the company said.
Last week Merit posted second-quarter earnings and sales that came in ahead of expectations and raised its outlook on the rest of the year.
MMSI shares were up 0.1% at $53.05 apiece today in early trading.