Financings in Brief: LifeCell
This article was originally published in The Gray Sheet
Executive Summary
LifeCell: Tissue repair company raises approximately $16 mil. from a Dec. 1 secondary offering of 4.0 mil. shares at $4.50 per share. The Woodlands, Texas-based firm's initial plans had also included the sale of 500,000 shares by selling shareholders ("The Gray Sheet" Oct. 20, p. 18). Proceeds are tabbed for further development, sales and marketing of its AlloDerm acellular dermal graft product, as well as for working capital and general corporate purposes. Underwriters Vector Securities International and Gruntal & Co. hold an overallotment option for 600,000 shares being offered by selling shareholders...