benzinga: Edwards Prices Its Initial Public Offering of 12.5M Shares at $8.00 per ADS11 May, 2012
Edwards Group Limited (Nasdaq: EVAC) announced yesterday that it has priced its initial public offering of 12,500,000 American Depositary Shares at $8.00 per ADS. The ADSs will begin trading on The NASDAQ Global Select Market on May 11, 2012 under the ticker symbol "EVAC."
The underwriters have been granted an option to purchase up to 1,875,000 additional ADSs from specified selling shareholders in the offering, which include entities affiliated with members of Edwards' board of directors. Edwards intends to use the net proceeds it receives from the offering to repay in part the term loans under its first lien credit agreement. Edwards will not receive any proceeds from the sale of the ADSs, if any, by the selling shareholders.
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