OrthoPediatrics Corp. Announces Closing of Offering of Common Stock
OrthoPediatrics Corp. (Nasdaq: KIDS) announced the closing of its underwritten public offering of 1,600,000 shares at a price of $47.00 per share, generating approximately $75.2 million in gross proceeds.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
OrthoPediatrics Corp. (Nasdaq: KIDS) announced the closing of its underwritten public offering of 1,600,000 shares at a price of $47.00 per share, generating approximately $75.2 million in gross proceeds. The offering was facilitated by Piper Sandler and Stifel as joint book-running managers, with additional support from other firms. The shares were offered under a shelf registration statement effective since March 27, 2020. A final prospectus supplement has been filed with the SEC and is available on their website.
Positive
- Raised approximately $75.2 million in gross proceeds to fund growth initiatives.
- Strengthens financial position through a successful public offering.
Negative
- Potential dilution of existing shares due to the new offering.
Details
News Market Reaction – KIDS
The recorded move for KIDS in the trading session of this news was +0.24%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
WARSAW, Ind., June 22, 2020 (GLOBE NEWSWIRE) -- OrthoPediatrics Corp. (“OrthoPediatrics”) (Nasdaq: KIDS), a company exclusively focused on advancing the field of pediatric orthopedics, announced today the closing of its underwritten public offering of 1,600,000 shares of its common stock at a price to the public of
Piper Sandler and Stifel acted as joint book-running managers and BTIG, JMP Securities, Needham & Company, and SunTrust Robinson Humphrey acted as co-managers of the offering.
The offering was made pursuant to a shelf registration statement on Form S-3 that became effective on March 27, 2020. The offering was made only by means of a written prospectus and prospectus supplement that form part of the registration statement. A final prospectus supplement and accompanying prospectus has been filed with the SEC and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus may also be obtained for free from the offices of Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, via telephone at (800) 747-3924 or via email at prospectus@psc.com; or from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, via telephone at (415) 364-2720 or via email at syndprospectus@stifel.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Investor Contacts
The Ruth Group
Tram Bui / Emma Poalillo
(646) 536-7035 / 7024
tbui@theruthgroup.com / epoalillo@theruthgroup.com
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