Organogenesis announces $130M private placement offering
The Fly

Organogenesis announces $130M private placement offering

Organogenesis (ORGO) Holdings announced that it has entered into a subscription agreement with affiliates of Avista Healthcare Partners for the sale of its Series A convertible preferred stock in a private placement for gross proceeds of $130M to the company, prior to deducting placement agent commissions, fees and other offering expenses. The company intends to use the net proceeds from the private placement to fund strategic growth initiatives including, but not limited to, operating and commercial activities, clinical development programs, working capital, capital expenditures, debt repayment and for general corporate purposes. In addition, approximately $23.5M of the net proceeds will be used to fund the repurchase of an aggregate of 7.42M shares of the company’s Class A common stock from certain of its directors and their affiliates at a price per share equal to $3.1597, the 10-day trailing volume weighted average price of the common stock as of market close on November 11.

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