Proceeds to be used for working capital and general corporate purposes
By Devika Patel
Knoxville, Tenn., April 11 - TearLab Corp. said it priced a $10.8 million public offering of stock with a $1.62 million greenshoe.
The company will sell 3 million common shares at $3.60 per share. The price per share reflects a 2.7% discount to the April 10 closing share price of $3.70.
Craig-Hallum Capital Group LLC is the sole bookrunning manager.
Settlement is expected April 16.
Proceeds will be used to fund research and development, to finance capital expenditures and capacity expansions and for working capital and general corporate purposes.
The San Diego company develops and markets lab-on-a-chip technologies that enable eye care practitioners to test for disease markers in tears.
| Issuer: | TearLab Corp.
|
| Issue: | Common stock
|
| Amount: | $10.8 million
|
| Greenshoe: | $1.62 million
|
| Shares: | 3 million
|
| Price: | $3.60
|
| Warrants: | No
|
| Bookrunner: | Craig-Hallum Capital Group LLC
|
| Pricing date: | April 11
|
| Settlement date: | April 16
|
| Stock symbol: | Nasdaq: TEAR
|
| Stock price: | $3.70 at close April 10
|
| Market capitalization: | $221.45 million
|
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