Canaccord Genuity, Craig-Hallum Capital are joint bookrunners
By Devika Patel
Knoxville, Tenn., July 25 - TearLab Corp. said it priced a $35.1 million public offering of stock with a 15% greenshoe. The deal was announced July 22.
The company will sell 2.6 million common shares at $13.50 per share. The price per share reflects a 1.6% discount to the July 24 closing share price of $13.72.
Canaccord Genuity Inc. and Craig-Hallum Capital Group LLC are the joint bookrunning managers.
Settlement is expected July 25.
Proceeds will be used for commercialization of products, research and development, working capital and other general corporate purposes.
The San Diego company develops and markets lab-on-a-chip technologies that enable eye care practitioners to test for disease markers in tears.
| Issuer: | TearLab Corp.
|
| Issue: | Common stock
|
| Amount: | $35.1 million
|
| Greenshoe: | 15%
|
| Shares: | 2.6 million
|
| Price: | $13.50
|
| Warrants: | No
|
| Bookrunners: | Canaccord Genuity Inc. and Craig-Hallum Capital Group LLC
|
| Co-managers: | Feltl and Co., Inc. and Roth Capital Partners, LLC
|
| Announcement date: | July 22
|
| Pricing date: | July 25
|
| Settlement date: | July 25
|
| Stock symbol: | Nasdaq: TEAR
|
| Stock price: | $13.72 at close July 24
|
| Market capitalization: | $406.46 million
|
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