Heska prices new stock offering, upsized to $175M

LOVELAND — Just a day after it said it would seek $150 million in proceeds by selling new stock, veterinary diagnostics provider Heska Corp. (Nasdaq: HSKA) added $25 million in anticipated funds as part of its priced offering.

The Loveland company will offer 940,860 new shares to the public at a price of $186 per share, setting the target for its funding amount at approximately $175 million before deducting underwriting fees. 

If all sold, the new shares would increase the company’s shares outstanding by approximately 10%.

The company plans to use the proceeds for general corporate purposes, but a portion could also be used to fund acquisitions or pay down debt.

Heska ended 2020 with a 60% year-over-year increase in revenues after acquiring multiple diagnostics providers in Europe. However, it ended the year with a $14.4 million loss.

© 2021 BizWest Media LLC

LOVELAND — Just a day after it said it would seek $150 million in proceeds by selling new stock, veterinary diagnostics provider Heska Corp. (Nasdaq: HSKA) added $25 million in anticipated funds as part of its priced offering.

The Loveland company will offer 940,860 new shares to the public at a price of $186 per share, setting the target for its funding amount at approximately $175 million before deducting underwriting fees. 

If all sold, the new shares would increase the company’s shares outstanding by approximately 10%.

The company plans to use the proceeds for general corporate purposes, but a portion could also be used to fund acquisitions or pay down debt.

Heska ended 2020 with a 60% year-over-year increase in revenues after acquiring multiple diagnostics providers in Europe. However, it ended the year with a $14.4 million loss.

© 2021 BizWest Media LLC