Wright Medical announces secondary offering

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Wright Medical (NSDQ:WMGI) today announced a secondary offering of stock, with Warburg Pincus affiliate TMG Holdings looking to unload 6.2 million shares.

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The funds raised will go to the sharing stockholder and no proceeds will return to Wright Medical from the sale, which could raise up to $120 million based on current share prices.

Bank of American Merril Lynch will act as underwriter for the offering, according to a press release from the company.

Earlier this month, Wright Medical said it raised $395 million in a private placement of debt with a syndicate of institutional investors.

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