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Wright Medical (NSDQ:WMGI) today announced a secondary offering of stock, with Warburg Pincus affiliate TMG Holdings looking to unload 6.2 million shares.
The funds raised will go to the sharing stockholder and no proceeds will return to Wright Medical from the sale, which could raise up to $120 million based on current share prices.
Bank of American Merril Lynch will act as underwriter for the offering, according to a press release from the company.
Earlier this month, Wright Medical said it raised $395 million in a private placement of debt with a syndicate of institutional investors.
