NEW YORK (AP) — Dental equipment maker Sirona Dental Systems Inc. said Friday its shareholder Sirona Holdings Luxco SCA is publicly offering about $178.1 million in common stock.
Sirona Dental will not receive any proceeds from the sale.
Sirona is offering 7.5 million shares at $23.75 apiece, marking a 3.6 percent discount to Siro's closing price of $24.64 Thursday.
Underwriters are being given an overallotment option of just over 1.1 million shares. J.P. Morgan Securities Inc. and BofA Merrill Lynch are the joint bookrunning managers for the offering. The offer is expected to close on Aug. 12.
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Sirona Dental has about 54.9 million shares of common stock outstanding.
Shares of Sirona Dental Systems fell $1.58, or 6.4 percent, to $23.06 in morning trading.