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Sientra Inc. (medical aesthetics) netted $108mm through an upsized public offering of 8.5mm shares (including the overallotment) at $13.50. The company (which originally expected to gross $75mm through the offer) will use the proceeds to launch sales and marketing initiatives, expand commercialization in the US and globally, fund R&D efforts, and potentially for future product or company acquisitions. Earlier this month Sientra announced FDA approval for its Opus silicone gel breast implants (which will be manufactured in the US by partner Vesta), triggering a $10mm tranche of term debt under its separate July 2017 credit facility with MidCap Financial.
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