A Medical Device Daily

Natus Medical (San Carlos, California) reported that the underwriter of its recently disclosed public offering of 2.3 million shares of common stock exercised its over-allotment option to purchase an additional 345,000 shares of the company's common stock, bringing the total shares offered to 2.645 million (Medical Device Daily, Aug. 21, 2006).

The company said it received about $29 million in net proceeds from the offering, after payment of underwriting discounts and commissions and expenses of the offering.

The company said it intends to use the proceeds for general corporate purposes, which may include the financing of potential acquisitions of, or investments in, companies and technologies that complement the company's business, as well as for capital expenditures and working capital needs.

It also may use a portion of the proceeds to repay some or all of the remaining balance on its senior secured credit facility with Wells Fargo Bank.

Roth Capital Partners acted as the sole underwriter of the offering.

Natus is a provider of healthcare products used for screening, detection, treatment, monitoring and tracking of common medical ailments such as hearing impairment, neurological dysfunction, epilepsy, sleep disorders, newborn jaundice and newborn metabolic testing.