A Medical Device Daily

NxStage Medical (Lawrence, Massachusetts) said it has sold 3.2 million shares of its common stock pursuant to an underwriting agreement with Canaccord Genuity (Toronto). The closing price of the company's common stock on the Nasdaq Global Market on Wednesday was $21.38 a share.

NxStage says it expects to use the proceeds from the stock sale for working capital and general corporate purposes. Closing of the offering is expected to occur on or about Tuesday, subject to customary closing conditions. In addition, NxStage has granted Canaccord, the sole bookrunner for the offering, a 30-day option to purchase up to an additional 480,000 shares of common stock to cover over-allotments, if any.

NxStage makes products for the treatment of end stage renal disease and acute kidney failure.

In other financing activity, Hologic (Bedford, Massachusetts) said it has entered into separate, privately-negotiated exchange agreements under which it will retire $450 million in aggregate principal of its outstanding 2% convertible senior notes due 2037 in exchange for its issuance of $450 million in aggregate principal of new 2% convertible exchange senior notes due 2037. Following these transactions, roughly $1.275 billion in principal amount of the existing notes will remain outstanding.

The new notes mature in 2037 and will pay interest semiannually at a rate of 2% a year until Dec. 15, 2016, after which their principal will accrete at a rate of 2% a year. Hologic makes diagnostics products, medical imaging systems and surgical products dedicated to serving the healthcare needs of women.