Surgalign Holdings expects $37.5M from public offering — 5 things to know

Alan Condon -   Print  |

Spine device company Surgalign Holdings has priced an underwritten public offering of 25 million  shares of its common stock at $1.50 per share, before underwriting discounts and commissions.

Five things to know:

1. Surgalign will receive about $37.5 million in gross proceeds from the offering.

2. The company said it will use net proceeds for general corporate purposes, such as working capital, capital expenditures and financing for potential acquisitions.

3. All of the shares of common stock are being offered by Surgalign.

4. The company granted underwriters a 30-day option to buy up to an additional 3.75 million shares of common stock at the public offering price, less the underwriting discount and commissions.

5. The offering is expected to close Feb. 1.

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