Novadaq has prescribed itself a $105 million injection of share capital. The company announced it is floating 6.25 million shares of its common stock in an underwritten public issue priced at $16.75 per share. It plans to use its share of the proceeds of the issue for "general corporate purposes," which include the funding of potential future acquisitions, capital expenditures, commercial efforts, the purchase of raw materials, and research and development activities.

Piper Jaffray is the underwriter of the issue, which is expected to close on or about next Tuesday.

At the moment, Novadaq has 48.4 million shares outstanding, and its stock most recently closed at $16.52 per share.

The article Novadaq Floats New Share Offering originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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