Sientra (SIEN) Prices 5.41M Share Common Offering at $6.75/Sh
Sientra, Inc. (NASDAQ: SIEN), a medical aesthetics company uniquely focused on plastic surgeons, today announced the pricing of its previously announced underwritten public offering. The Company will sell 5,410,628 shares of its common stock at a public offering price of $6.75 per share. The gross proceeds to Sientra, before deducting the underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $36.5 million. The offering is expected to close on or about February 11, 2021, subject to customary closing conditions. In addition, the Company has granted the underwriters a 30-day option to purchase up to 811,594 additional shares at the public offering price, less underwriting discounts and commissions.
Sientra intends to use the net proceeds from this offering for general corporate purposes, including general and administrative expenses, capital expenditures and general working capital purposes. Sientra may also use a portion of the net proceeds to acquire or invest in complementary businesses, products and technologies, although it has no current commitments or agreements with respect to any acquisitions as of the date hereof.
Stifel is acting as book-running manager for the offering.