Sientra (SIEN) Plummets 37% as Company Proposes Public Offering
Sientra (SIEN) took major losses today, as the Company proposes a new public offering. Sientra’s share price fell to around $0.38, marking a new 52-week low.
A couple details on the proposed offering are below:
Each share of common stock (or common stock equivalent) will be sold with a warrant to purchase one share of the Company’s common stock. The Company expects to grant the underwriter a 30-day option to purchase additional shares of common stock and/or additional common stock purchase warrants at the public offering price, less underwriting discounts and commissions.
Sientra focuses on innovations in plastic surgery and is therefore housed in the PRISM Med Devices Index, which fell 2.6% for the day.
Headquartered in Santa Barbara, California, Sientra is a medical aesthetics company exclusively focused on plastic surgery. The Company’s mission is to offer proprietary innovations and unparalleled partnerships that radically advance how plastic surgeons think, work and care for their patients. Sientra has developed a broad portfolio of products with technologically differentiated characteristics, supported by independent laboratory testing and strong clinical trial outcomes. The Company’s product portfolio includes its Sientra round and shaped breast implants, the first fifth generation breast implants approved by the FDA for sale in the United States, its ground-breaking Allox2® breast tissue expander with patented dual-port and integral drain technology, the AuraGen fat grafting system, and BIOCORNEUM®, the #1 performing, preferred and recommended scar gel of plastic surgeons(*).