Goleta-based Sientra to offer additional $75 million worth of stock
Sientra, a Goleta-based breast implant manufacturer, submitted documents to the Securities and Exchange Commission to offer an additional $75 million worth of stock on Sept. 3.
Sientra raised about $77 million after paying underwriting expenses when it started trading on the Nasdaq on Oct. 29, 2014. At the time, the company said it sold 5.75 million shares for $15 each.
The company said in the filings that it plans to use the new proceeds for working capital, invest in new technologies, or repay some of its $25.7 million in debt.
Sientra made the announcement after the markets closed on Sept. 3. The company closed up 14 cents to $23.15. Sientra’s market capitalization was $346.95 million when the markets closed.
Sientra’s sales were up 21 percent in the second quarter of 2015 from $11.7 million last year to $14.2 million this year. The company lost $2.1 million in the second quarter though, which was up from the $1.2 million it lost in the second quarter last year.
While it was a private company, it raised $151 million in venture capital. Founded in 2007, in 2012 it became just the third company to get approval from the U.S. Food and Drug Administration to sell silicone breast implants.