Spectranetics Corporation Seeking to Raise $250 Million

Spectranetics Corp. plans to raise up to $250 million by issuing debt, stock or other securities, according to a filing the company made Monday with the Securities and Exchange Commission. The Colorado Springs-based medical laser manufacturer could issue the securities within three years of SEC approval of its prospectus for the offering, which is called a "shelf" registration under federal securities laws. Spectranetics said it plans to use funds raised from the offering for acquisitions, repaying future debt, capital spending, investments or other business opportunities, according to the filing. The securities could include several types of debt securities, common or preferred stock, warrants to buy stock or debt securities, or a combination of some or all types of debt, stock or warrants, the filing said. "This is a vehicle to access the capital markets in a streamlined fashion," said Guy Childs, Spectranetics chief financial officer. "Given our aggressive growth plans over the next three years, we want to provide as much flexibility as possible." Spectranetics CEO Scott Drake told stock analysts in January that the company expects to boost revenue growth from 10 percent last year to between 15 percent and 20 percent during the next two or three years to reach $200 million by 2014 or 2015. He said the company can accelerate its growth by developing more products, widening the federally approved uses of its existing products, expanding its sales teams and getting doctors to use its lasers more often to clear blockages in coronary and leg arteries.

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