iCad prices $9m offering

iCad (NSDQ:ICAD) today priced a stock offering that’s slated to gross just more than $9.0 million.

The Nashua, N.H.-based cancer detection and radiation therapy devices maker said it plans to float more than 1.6 million shares at $5.50 apiece, for expected net proceeds of about $8.3 million.

The offering includes a 30-day underwriters option on another 245,000 shares, which would bring in an extra $1.3 million if fully exercised. The flotation is slated to close June 17, iCad said.

The proceeds are earmarked for working capital and other general purposes, the company said. Craig-Hallum Capital is the sole underwriter on the offering.