Osteotech Inc. said Wednesday that it has completed its initialpublic offering of 1.25 million shares of common stock at$7.50 a share. The Shrewsbury, N.J.-based company, whichspecializes in processing bones and ligaments for transplants,will have 6 million shares outstanding after the offering. Thecompany's stock (NASDAQ:OSTE) closed Wednesday at $7.75,down 25 cents.
Osteotech's original offering was pulled off the market at thelast minute in late June after Desmond O'Connell, chairman andchief executive, announced an indefinite medical leave ofabsence. About 1.25 million shares had been sold at $9.25, butthe sales did not close when the offering was halted.
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