MiMedx Prices $34 Mln Stock Offering

(RTTNews) - MiMedx Group, Inc. (MDXG) said Thursday that it has priced an underwritten public offering of 5 million shares of its common stock at a price to the public of $6.80 per share for gross proceeds of $34.0 million. The net proceeds from the sale of the shares, after deducting the underwriters' discounts and other estimated offering expenses payable by MiMedx, will be about $31.6 million. The company has also granted the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock to cover over-allotments, if any.

The offering is expected to close on or about December 17.

The proceeds of the offering will be used for general corporate purposes, including, but not limited to, research, development and further commercialization of the company's products, obtaining regulatory approvals, funding of clinical trials, capital expenditures, working capital and future acquisitions of complementary businesses, technology or products, although there currently are no agreements or commitments with respect to any such investment or acquisition.