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RTI Biologics sells $50mm in convertible preferred shares to Water Street
22 Aug 2013
Executive Summary
To help fund its concurrent acquisition of fellow surgical implant maker Pioneer Surgical Technology Inc., RTI Biologics Inc. sold $50mm in convertible preferred shares to Water Street Healthcare Partners, which appoints two board directors to the new firm. The shares convert into common stock at $4.39 each, giving Water Street a 16.8% stake in the combined entity.
Deal Industry
- Biotechnology
- Medical Devices
-
Medical Devices
- Biomaterials
- Implantable Devices
- Surgical Equipment & Devices
Deal Status
- Final
Deal Type
-
Financing
- Other
- Private Placement
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RTI Biologics sells $50mm in convertible preferred shares to Water Street
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