Disposable products developer Merit Medical Systems has commenced an underwritten public offering of 3.5 million shares of its common stock.
Furthermore, the company plans to grant the underwriters participating in the offering a 30-day option to purchase up to an additional 525,000 shares of common stock. Merit said it intends to use the net proceeds from the offering to repay debt under its existing credit facility.
Wells Fargo Securities and Piper Jaffray are acting as joint bookmakers for the offering and representatives of the underwriters, according to Merit.
