The Mountain View, Calif.-based company said it plans to offer 1.15 million shares at $14 per share, expecting to bring in approximately $16.1 million before expenses. The round includes a 30-day underwriter’s option for the purchase of up to an additional 172,500 shares.
Net proceeds from the round are expected to be approximately $15.1 million after underwriting discounts, assuming an un-exercised over-allotment, according to a press release. Iridex hopes to close the round on December 14.
In February, Iridex said it won CE Mark approval in the European Union for its Cyclo G6 laser system designed to treat patients with Glaucoma.
The Cyclo G6 system is designed specifically for treating patients diagnosed with “a range of glaucoma disease states” and features Mountain View, Calif.-based Iridex’ MicroPulse tissue-sparing technology as we ll as single use probes.