Benzinga | Feb 19, 2021 05:39AM EST

ClearPoint Neuro Priced Public Offering of 1,850,140 Shares of Common Stock @$23.50/Share

ClearPoint Neuro, Inc. (NASDAQ:CLPT) announced the pricing of its underwritten public offering of 1,850,140 shares of its common stock at a price to the public of $23.50 per share. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 277,520 shares of its common stock at the public offering price less underwriting discounts and commissions. All the shares are being offered by the Company. The offering is expected to close on February 23, 2021, subject to customary closing conditions.

The Company intends to use the net proceeds from this offering to fund product development and research and development activities and the remainder for working capital and general corporate purposes.

B. Riley Securities is acting as book-running manager and Lake Street Capital Markets, LLC is acting as co-manager for the offering.