Apollo Endosurgery today priced an upcoming public offering, looking to raise approximately $31 million.
In the offering, Austin, Texas-based Apollo Endosurgery said it will offer 5.7 million shares of its common stock at $5.50 per share, before underwriting discounts and commissions. The round also includes a 45-day underwriters option for an additional 853,363 shares of common stock.
The round is expected to close on July 25, and is subject to customary closing conditions, according to a press release. Craig-Hallum Capital Group and Roth Capital Partners are acting as joint book-runners for the offering.
Apollo Endosurgery has not yet stated how it plans to spend funds raised in the round.