MAKO Surgical Prices Public Offering Of 3.04 Mln Shares At $13.15/shr
MAKO Surgical Corp. (MAKO: Quote) said Wednesday that it has priced its previously announced underwritten public offering.
Pursuant to the offering, MAKO has sold about 3.04 million shares of its common stock at a public offering price of $13.15 per share.
In connection with the offering, the company has also granted the underwriter a 30-day option to purchase up to an additional 456,300 shares of common stock to cover over-allotments, if any.
Net proceeds from the sale of the shares after underwriting discounts and commissions and other offering expenses are expected to be about $37 million. If the underwriter exercises its over-allotment option in full, net proceeds from the offering will be about $43 million.
The offering is expected to close on November 19.
MAKO expects to use the net proceeds from the offering for commercialization infrastructure, selling, general and administrative activities, research and development activities and to fund working capital and other general corporate purposes.
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by RTT Staff Writer
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