ClearPoint Neuro (Nasdaq:CLPT) announced today that it priced an underwritten public offering worth approximately $15 million.
The company is offering 2,307,694 shares of its common stock at a price to the public of $6.50 per share. It also granted the underwriter a 30-day option to purchase up to an additional 346,154 shares of common stock at that offering price. ClearPoint Neuro is offering all shares in this case.
According to a news release, the company expects the offering to close on March 4, 2024, subject to customary closing conditions.
Solana Beach, California-based ClearPoint Neuro plans to use proceeds from the offering for general corporate purposes. That may include R&D, potential acquisitions or investments or repayment of debt. Lake Street Capital Markets serves as the sole book-running manager for the proposed offering.
This marks the latest boost for ClearPoint Neuro, which kicked off 2024 with a series of milestones. In January alone, the FDA cleared the company’s stereotactic guidance technology, then the company reported its first cases with its laser therapy and navigation systems.
The guidance system — SmartFrame OR — offers stereotactic guidance for placing and operating instruments or devices in neurological procedures. Its Prism laser system features the only non-cooled laser applicator on the market, the company said. Its next-generation laser applicator technology eliminates the need for external cooling.
Just last week as well, the company received FDA clearance for its ClearPoint 2.2 software with integrated Maestro Brain Modeling.