Mazor Robotics (NSDQ:MZOR) said it plans to offer 2.4 million shares of stock at $17 apiece, for total proceeds of $40.8 million.
The Caesarea, Israel-based robotics company makes the Renaissance robotic surgery system for spinal surgeries. The offering includes a 30-day over-allotment option for up to 360,000 additional shares, according to a press release. The offering is expected to close Nov. 4.
Last week Mazor released its preliminary 3rd-quarter results, saying it expects Q3 sales to plunge nearly 27% to $3.0 million. MZOR shares have lost 16.4% since that announcement.
MZOR shares were trading at $17.26 apiece today as of about 10:30 a.m., down 0.6%.
