Ra Medical Systems (NYSE:RMED) announced today that it closed its previously announced $12.1 million public offering.
Carlsbad, California-based Ra Medical last week confirmed the pricing of the public offering but did not specify its intended use of proceeds.
The company, which develops an excimer laser system for treating vascular diseases, offered more than 9.5 million units, priced at a public offering price of 50¢ per unit. Each unit consists of one share of common stock, one warrant to purchase one share of common stock at an exercise price of 50¢ per share that expires on the first anniversary of the date of issuance (Series A warrant) and one warrant to purchase one share of common stock at the same price that expires on the seventh anniversary of the date of issuance (Series B warrant).