Medical device maker LDR of Austin may raise another $150M

Dec 12, 2014
Austin Business Journal

LDR Holding Corp. could be poised to raise another $150 million in capital, according to a filing with the U.S. Securities and Exchange Commission

The medical device company (Nasdaq: LDRH) went public in 2013, when it finished the year with a net loss of $27.9 million. The company's stock was trading at just over $32 per share on 

Thursday afternoon

The funding would come from a combination of stock and other securities, though the Austin American-Statesman reports the company is not raising funds currently and management completed the 

filing, which stays valid for three years, to expedite the process when it does begin to raise funds

The filing said any new capital would used for "general corporate purposes," a broad term that includes uses such as capital expenditures, repayment or refinancing of debt, acquisitions and 

other corporate expenses

LDR reported a net loss of $2 million on $35.9 million in revenue for the third quarter. Through the first nine months of 2014 it has a loss of $7.8 million on $101.7 million in revenue

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