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Medical device company Tactile Systems Technology nets $38.3mm in IPO
31 Aug 2016
Tactile Systems Technology Inc. (pneumatic compression devices) netted $38.3mm in its Nasdaq IPO of 4.12mm shares (slightly up-sized from 4mm shares at time of filing) at $10 (well below the expected $14-16 per share range). Proceeds will be used to expand sales, marketing, reimbursement, clinical, regulatory and product development activities, and a portion will also go to pay the cumulative accrued dividends of Series A preferred stockholders.
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