GC Aesthetics sets terms for $75m IPO

GC Aesthetics said last Saturday it set terms for its $75 million initial public offering, looking to float 5.4 million shares between $13 and $15 a piece, according to an SEC filing.

The IPO also includes an 802,500 share underwriters over-allotment option, the company said.

The offering would command a fully diluted market value of $260 million at the midpoint of the proposed range for the Dublin, Ireland-based breast implant company.

Bank of America Merrill Lynch, Deutsche Bank Securities and Cowen and Company be book-runners for the offering, with William Blair acting as co-manager, according to an SEC filing from GC Aesthetics.

GC Aesthetics plans to list on the NASDAQ Global Market under the ticker symbol “GCAA,” the company said.

The company first announced the $75 million IPO in June, saying it plans to spend $11.5 million on sales and marketing in new and existing countries, including the launch of its Impleo implant, $4.2 million to grow its product portfolio and $5 million to expand manufacturing. The net proceeds will be used to fund potential future acquisitions, the company said.

Last March, GC Aesthetics raised $60 million from 3 healthcare investment groups, with plans to use the funds to fund international expansion and new product development.

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