Cutera drops on convertible notes offering

Cutera

07/12/2022 21:25

** Cutera Inc's  CUTR.O  shares down ~16% in extended
trading as co looks to raise capital
    ** Dermatology-focused co plans to offer $100 mln
convertible bonds due 2029  urn:newsml:reuters.com:*:nBw32tRN0a
    ** Co to use portion of net offering proceeds to pay cost of
capped call transactions, remainder for placements of AviClear,
its laser treatment for acne
    ** Shares on Weds closed down 0.7% at $49.66 for roughly
$974 mln market cap, per Refinitiv 
    ** YTD, shares have gained 20%
    ** All 5 analysts are bullish on CUTR with $78 median PT -
Refinitiv
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))