OrthoPediatrics closed its underwritten public offering of 1,091,250 shares of its common stock at $55 per share and, in lieu of common stock, pre-funded warrants to purchase up to 1,525,000 shares of common stock at an offering price of $54.99975 per pre-funded warrant and with an exercise price of $0.00025 per share. The offering represented the exercise in full by the underwriters of their option to purchase additional shares of common stock on the same terms and conditions.
The pre-funded warrants were purchased by Squadron Capital, the company’s largest investor, which beneficially owns shares with a value in excess of the notification threshold of the Hart-Scott-Rodino Antitrust Improvements Act. Once certain HSR Act limitations are satisfied, the holder is required to exercise the pre-funded warrants immediately pursuant to their terms.
The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses were approximately $144 million. Read more.
