In the round, the Vancouver-based company will look to float approximately 11.1 million shares of its common stock at a price of 45¢ per share. The offering is expected to close on March 15, the company said.
After expenses, Neovasc said that it expects to receive net proceeds of approximately $4.3 million, which it plans to use to support continued development of its Tiara transcatheter mitral valve replacement and the development and commercialization of its Neovasc Reducer.
H.C. Wainwright & Co. is acting as the sole book-runner for the offering, according to a press release.
Last month, Neovasc closed a separate $5 million offering and said that it inked a $3 million settlement agreement with Micro Interventional Devices to resolve undisclosed allegations related to Neovasc’s transcatheter mitral valve replacement technology, including its flagship Tiara device.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.