The dental branch of Danaher Corp. Envista raised $589 million in its initial public offering, according to Bloomberg.
In total, Envista sold 26.8 million shares for $22 each on Sept. 17. The shares ranged from $21 to $24, according to a regulatory filing. The company began trading on the New York Stock Exchange with the symbol NVST on Sept. 18.
The Brea, Calif.-based company is being valued at $3.4 billion in the IPO based on outstanding shares, Bloomberg reports.
Envista plans to use the funding to pay Danaher for the dental business. After the deal, Danaher will retain 83 percent of the voting power in the company.
More articles on dental:
Dentist pleads guilty to $5M+ Medicaid fraud scheme
9 dental companies making headlines
Employee at Minnesota dental practice stole nitrous oxide, police say
In total, Envista sold 26.8 million shares for $22 each on Sept. 17. The shares ranged from $21 to $24, according to a regulatory filing. The company began trading on the New York Stock Exchange with the symbol NVST on Sept. 18.
The Brea, Calif.-based company is being valued at $3.4 billion in the IPO based on outstanding shares, Bloomberg reports.
Envista plans to use the funding to pay Danaher for the dental business. After the deal, Danaher will retain 83 percent of the voting power in the company.
More articles on dental:
Dentist pleads guilty to $5M+ Medicaid fraud scheme
9 dental companies making headlines
Employee at Minnesota dental practice stole nitrous oxide, police say