Rights offering pulls in $45m for Pulse Biosciences

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Pulse BiosciencesPulse Biosciences (NSDQ:PLSE) said today that it raised $45 million in an over-subscribed rights offering.

The price per share for the offering, which closed yesterday, was equivalent to the five-day volume-weighted average share price at $12.5658 apiece, Hayward, Calif.-based Pulse said.

The company received subscriptions and over-subscriptions for 4,023,779 shares, topping the original offering of 3,581,148 shares.

“We are pleased with the results of the rights offering,” president & CEO Darrin Uecker said in prepared remarks. “The rights offering offered our stockholders an opportunity to participate in this important financing that will enable us to continue progress towards our goal of commercializing our proprietary CellFX Nano-Pulse Stimulation platform, initially in aesthetic dermatology. We remain committed to building a viable company and to stockholder value, and look forward to updating you on our progress as we continue to generate important results in the future.”

PLSE shares were trading at $12.82 today in mid-day trading, up 2.9%.

The post Rights offering pulls in $45m for Pulse Biosciences appeared first on MassDevice.

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