FOPO nets $108mm for Sientra

Sientra Inc. (medical aesthetic devices) netted $108mm through the public offering of 20mm shares (including the overallotment) at $5.75. The company will use the proceeds to carry out sales and marketing initiatives, expand commercially in the US and globally, and fund R&D. Potentially, some of the funds may also support future acquisitions or investments in complementary businesses, products, or technologies. Sientra offers both a portfolio of breast products (including implants, tissue expanders, and scar management products sold to plastic surgeons) as well as the miraDry system (for reduction of underarm sweat, odor, and hair), with a 2019 sales outlook of $44-46mm and $35-37mm for the segments, respectively.