iCad (NSDQ:ICAD) yesterday closed a stock offering, including an underwriters option, that grossed more than $10 million.
The Nashua, N.H.-based cancer detection and radiation therapy devices maker floated nearly 1.9 million shares at $5.50 apiece, including the 245,500-share over-allotment, for gross proceeds of roughly $10.3 million.
The net proceeds of $9.5 million are earmarked for working capital and other general purposes, the company said. Craig-Hallum Capital was the sole underwriter on the offering, with Laidlaw & Co. as financial advisor.
1,881,818 shares of its common stock at a price to the public of $5.50 per share, which includes the exercise of the underwriter’s over-allotment option to purchase 245,454 shares, for gross proceeds of approximately $10.3 million.