Sientra (NSDQ:SIEN) yesterday announced an upcoming offering looking to raise approximately $75 million.
In the offering, the Santa Barbara, Calif.-based company said it plans to offer $75 million in its common stock to help support sales and marketing initiatives, to expand its U.S. and global commercial teams and to fund research and development efforts.
Sientra added that a portion of the funds may also be used to invest in complementary businesses, products and technologies, but that it “has no current commitments or agreements with respect to any acquisitions,” according to a press release.
The company said that the offering will include a 30-day underwriter’s option to purchase up to approximately $11.3 million in additional shares, which would bring the total possible raised in the round up to an approximately $86.3 million.
Stifel, William Blair and SVB Leerink are acting as joint book-runners for the offering, Sientra said in a press release.
Last month, Sientra saw shares plunge after the cosmetic device maker’s first-quarter earnings missed the mark by a mile.