Mesa Laboratories Inc. raised gross proceeds of about $90.6 million from an offering of common shares.
Lakewood, Colo.-based Mesa Laboratories, which designs and manufactures quality control instruments and disposable products, sold 431,250 shares at $210 apiece. The share count includes the exercise in full of the underwriters' option to purchase 56,250 additional shares.
In addition, the company issued 1.375% convertible senior notes due 2025 to raise $172.5 million, including the full exercise by underwriters to purchase additional notes worth $22.5 million.
Net proceeds from the share offering is expected to be about $85 million, and around $167.2 million from the notes offering, after deducing underwriting discounts, commissions and other expenses.
Mesa Laboratories plans to use the funds to continue its acquisition strategy and for general corporate purposes.
Jefferies LLC and J.P. Morgan Securities LLC were the underwriters for the common stock and senior notes offerings. Evercore Group LLC and Wells Fargo Securities LLC served as book runners on the common stock and notes offerings, respectively, and Janney Montgomery Scott LLC was lead manager for the stock offering.