In after-hours trading on Tuesday, Sientra Inc. (NASD: SIEN) increased 3.58% to $0.194 as the medical aesthetics business prepares to announce its quarterly results this week.
When will SIEN provide the financial information?
The third quarter’s financial results for Sientra (SIEN) will be announced on Thursday, November 10, 2022, following the end of the market. The next day at 4:30 p.m. Eastern Time, Sientra will have a conference call to go over financial results. On the Investor Relations page of the SIEN website at www.sientra.com, a live webcast of the conference call will be available. After the call is over, the webcast will be preserved on the website.
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Recent equity transaction by SIEN:
Sientra recently disclosed the pricing of its previously disclosed underwritten public offering of 34,782,600 shares of its common stock (or common stock equivalents) and related warrants to purchase up to an aggregate of 34,782,600 shares of common stock. At a combined public offering price of $0.38 per unit, each share of common stock (or common stock equivalent) is being sold along with one warrant to acquire one share of common stock. The warrants are immediately exercisable, have an exercise price of $0.46 per share, and have a five-year expiration date.
The only managing underwriter for the planned offering is Craig-Hallum Capital Group. Further, SIEN has granted the underwriter warrants to acquire up to an additional 5,217,390 shares of its common stock at the public offering price, minus underwriting discounts and fees, as well as a 30-day option to purchase up to an additional 5,217,390 shares of its common stock.
What will SIEN do with the money?
Before deducting underwriting discounts and commissions, any offering expenses, and any funds that may be received upon exercising the warrants to buy common stock, the gross proceeds from the offering to Sientra (SIEN) are anticipated to be $13.2 million. The closure of this offering is anticipated to occur on or around October 25, 2022, subject to the usual closing requirements. The net proceeds from the transaction will be put to use by SIEN for general working capital needs.