Cutera Shares Fall 14% After News of Proposed Private Offering
December 07 2022 - 5:32PM
Dow Jones News
By Stephen Nakrosis
Shares of Cutera, Inc., provider of aesthetic and dermatology
solutions, were trading lower in Wednesday's after-hours session,
following news the company plans to offer $100 million of
convertible senior notes due 2029 in a private placement.
At 5:41 p.m. EST, the company's shares were trading 13.41% lower
at $43 per share. Volume at the time topped 125,000 shares. The
stock finished the day's regular session with a 0.74% loss at
$49.66 per share. Year to date, the stock is up by over 20%.
The company said, in connection with the pricing of the notes,
it expects to enter into capped call transactions which are
"expected generally to reduce potential dilution to Cutera's common
stock upon any conversion of notes."
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
December 07, 2022 18:17 ET (23:17 GMT)
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