Tornier N.V. (TRNX) announced the pricing of underwritten registered public offering of 7.0 million ordinary shares at $16.15 per share. The offering is expected to close on or about May 15, 2013.
Out of which, 4.5 million shares are being sold by Tornier and 2.5 million shares are being sold by certain existing shareholders. The selling shareholders include funds associated with affiliates of Warburg Pincus LLC and The Vertical Group, L.P.
In addition, Tornier and the selling shareholders have granted the underwriters a 30-day option to buy up to 1.05 million additional ordinary shares at the public offering price, less the underwriting discount.
Tornier expects to use sale net proceeds for working capital, repayment and refinancing of debt and general corporate purposes. Tornier says it will not receive any of the proceeds of the ordinary shares being sold by the selling shareholders.
J.P. Morgan Securities LLC and BofA Merrill Lynch are serving as joint bookrunning managers, and BMO Capital Markets, Wells Fargo Securities, William Blair & Company, LLC and SG Americas Securities, LLC are acting as co-managers for the offering.
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