ClearPoint Neuro Announces Closing of Public Offering of 2,127,660 Shares of Common Stock

Nachrichtenquelle: globenewswire
23.02.2021, 22:05  |  60   |   |   

IRVINE, Calif., Feb. 23, 2021 (GLOBE NEWSWIRE) -- ClearPoint Neuro, Inc. (Nasdaq: CLPT) (the “Company”), a global therapy-enabling platform company providing navigation and delivery to the brain, today announced the closing of its previously disclosed public offering of common stock. The total number of shares of common stock sold was 2,127,660, composed of 1,850,140 shares of common stock initially offered at a public offering price of $23.50 per share and an additional 277,520 shares of common stock sold pursuant to the exercise of the underwriters' option to purchase additional shares at the price of $22.09 per share. The net proceeds to the Company from the offering, after deducting underwriting discounts and commissions and estimated offering expenses, are approximately $46.8 million. The Company will use the net proceeds from the offering to fund product development and research and development activities and the remainder for working capital and general corporate purposes.

“We are very pleased with the result and closing of this recent stock offering,” commented Joe Burnett, the Company’s President and Chief Executive Officer. “Our team has done a tremendous job accumulating the necessary partnerships we need across our portfolio of Neuro-based Biologics, Navigation and Therapy, the same way you would lay out all of your chess pieces before starting the match. The next two years is about putting all of those chess pieces in motion and executing against our strategic plan. Adding this new capital to our balance sheet increases our level of control and our capability to do just that.”

B. Riley Securities acted as book-running manager and Lake Street Capital Markets, LLC acted as co-manager for the offering.

The shares were offered pursuant to an effective shelf registration statement on Form S-3 (File No. 333-252346) filed with the Securities and Exchange Commission (the “SEC”). An electronic copy of the final prospectus supplement, dated February 18, 2021, and accompanying prospectus are available on the SEC website at www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus may be obtained by visiting the SEC’s website, or from B. Riley Securities, Inc., Attention: Prospectus Department, 1300 North 17th Street, Suite 1300, Arlington, Virginia 22209, or by telephone at 703-312-9580 or by email at prospectuses@brileyfin.com.

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ClearPoint Neuro Announces Closing of Public Offering of 2,127,660 Shares of Common Stock IRVINE, Calif., Feb. 23, 2021 (GLOBE NEWSWIRE) - ClearPoint Neuro, Inc. (Nasdaq: CLPT) (the “Company”), a global therapy-enabling platform company providing navigation and delivery to the brain, today announced the closing of its previously …

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