Surgalign Holdings Inc (NASDAQ:SRGA) has priced its previously announced underwritten public offering of 43.47 million and warrants to purchase up to 32.6 million shares at a combined price of $0.46 per share.
- The gross proceeds are expected to be approximately $20 million.
- Each whole warrant is exercisable immediately at an exercise price of $0.60 per share and will expire five years following the date of issuance.
- Surgalign will use the proceeds for working capital and general corporate purposes.
- Related: FDA Clears Surgalign's HOLO Portal Surgical Guidance System For Spine Procedures.
- Underwriters have an option to purchase up to an additional 6.5 million shares and/or warrants to purchase up to an additional 4.9 million shares.
- The offering will close by February 15.
- Price Action: SRGA shares are down 42.80% at $0.60 during the premarket session on the last check Friday.
