Intersect ENT Upsizes, Prices Underwritten Public Offering

(RTTNews) - Intersect ENT, Inc. (XENT), dedicated to improving the quality of life for patients with ear, nose and throat conditions, announced the upsizing and pricing of its underwritten public offering.

The size of the offering has been increased from the previously announced 3 million shares of common stock to 3.58 million shares of common stock sold by the company.

The shares are being offered to the public at a price of $25 per share, resulting in aggregate proceeds of about $89.6 million before underwriting discounts and expenses.

In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 537,300 shares of common stock from the company.

J.P. Morgan and BofA Merrill Lynch are acting as joint book-running managers for the offering. Leerink Partners, Canaccord Genuity and William Blair are the co-managers.

The stock climbed 4.4 percent on Tuesday to settle at $25.16.