RTTNews | Mar 3, 2021 10:29AM EST

10:29 Wednesday, March 3, 2021 (RTTNews.com) - Shares of iCAD, Inc. (ICAD) are gaining over 10% on Wednesday morning. The medical technology company announced the pricing of $22.0 million public offering of common stock.

ICAD is currently trading at $20.70, up $1.91 or 10.16%, on the Nasdaq.

ICAD priced the public offering of 1.22 million shares at $18.00 per share. The proceeds of the offering are expected to be about $22.0 million.

The company said it intends to use the proceeds for working capital and general corporate purposes.

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