Heska (HSKA) Announces $150M Proposed Public Offering of Common Stock
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Heska Corporation (NASDAQ: HSKA - News; "Heska" or the "Company"), a leading provider of advanced veterinary diagnostic and specialty products, today announced that it has commenced an underwritten public offering of $150 million of shares of its common stock. In addition, Heska expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock sold in the offering at the public offering price, less the underwriting discounts and commissions. All of the shares of common stock to be sold in the offering will be offered by Heska. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
Heska intends to use the net proceeds from the offering for general corporate purposes, including working capital, further development and potential commercialization of current and future product initiatives, collaborations, and capital expenditures. Heska may also use a portion of the net proceeds of this offering to fund possible investments in or acquisitions of complementary businesses, products or technologies, or to repay indebtedness. However, it has no agreements or commitments to do so.
J.P. Morgan and Piper Sandler & Co. are acting as joint book-running managers for the offering.
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