Pulse Biosciences (NSDQ:PLSE) said late last week it closed a $45 million rights offering.
In the offering, the Hayward, Calif.-based company issued approximately 3.6 million shares of common stock at approximately $12.57 per share for total gross proceeds of $45 million.
Pulse Bioscience board chair Robert Duggan, who owns 35% of the company’s outstanding common stock prior to the offering, also participated in the round, purchasing approximately 3.1 million shares for an additional investment of approximately $39.5 million.
After the purchase, Duggan now owns approximately 44% of the company’s outstanding shares, Pulse Biosciences said in a press release.
Shares in Pulse Biosciences are trading 3.6% today, at $11.51 as of 1:06 p.m. EDT.
