Sensus Healthcare sets terms on $20m IPO

Sensus Healthcare yesterday set the terms on an initial public offering that would raise $20 million at the mid-point. Boca Raton, Fla.-based Sensus makes the SRT-100 and SRT-100 Vision photon X-ray low-energy superficial radiotherapy systems for treating non-melanoma skin cancers, including basal cell and squamous cell carcinoma. Sensus said it plans to float more than 1.8 million shares at $10 to $12 apiece, working out to a low-end raise of $18.2 million and a high end of $21.8 million. Sensus said it’s won 510(k) clearance from the FDA, CE Mark approval in the European Union and nods from the China Food & Drug Administration and Health Canada and has more than 200 installed SRT-100 devices in 11 countries. The company said it plans to put $3 million of the proceeds toward hiring new sales reps and a director of marketing and another $3 million into R&D for new products and the further development of existing products. Some $2.7 million will go toward paying a dividend to a former shareholders who elect not to convert their dividends into shares after the IPO, Sensus said. The post Sensus Healthcare sets terms on $20m IPO appeared first on MassDevice.
Source: Mass Device - Category: Medical Equipment Authors: Tags: Funding Roundup Initial Public Offering (IPO) Radiosurgery Sensus Healthcare LLC Source Type: news