SI-BONE slides on pricing stock offering

SI-BONE

05/05/2023 12:30

** SI-BONE Inc's  SIBN.O  shares down 6.8% at $22.80
premarket after medical device firm's overnight follow-on prices
    ** Co late Thurs announced ~3.8 mln shares at $22, 10.1%
discount to last sale
    ** SIBN offering ~3.5 mln shares and board chairman Jeffrey
Dunn selling the balance of approx 273k, per the prospectus
filing
    ** Co plans to use net offering proceeds it receives for
product innovation, clinical evidence, build implants and
surgical instrument systems, and other purposes
    ** With ~35.2 mln shares outstanding, SIBN has ~$861 mln
market cap
    ** Shares have gained 80% YTD through Thurs close
    ** BofA, Morgan Stanley and Jefferies acting as joint
book-running managers on the offering

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))