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Home » Ra Medical prices $12M offering

Ra Medical prices $12M offering

February 4, 2022 By Sean Whooley

Ra MedicalRa Medical Systems (NYSE:RMED) announced today that it priced an underwritten public offering worth proceeds of approximately $12 million.

Carlsbasd, California-based Ra Medical, a developer of an excimer laser system for treating vascular diseases, did not provide an intended use for the proceeds.

According to a news release, the offering includes more than 9.5 million units, priced at a public offering price of 50¢ per unit. Each unit consists of one share of common stock. In addition, each unit includes one warrant to purchase one share of common stock at an exercise price of 50¢ per share that expires on the first anniversary of the date of issuance (Series A warrant) — and one warrant to purchase one share of common stock at the same price that expires on the seventh anniversary of the date of issuance (Series B warrant).

The offering also includes nearly 14.5 million pre-funded units, priced at a public offering price of $0.4999 per unit. Each of those units contains one pre-funded warrant to purchase one share of common stock at $0.0001 per share that expires on the 20th anniversary of the date of issuance, along with one Series A warrant and one Series B warrant.

Warrants issued in the transaction are fixed-price and do not contain variable pricing features. The securities comprising the units are immediately separable and will be issued separately.

Ra Medical expects the offering to close on or about Feb. 8, 2022, subject to customary closing conditions. Ladenburg Thalmann & Co. Inc. is acting as the sole book-running manager. Joseph Gunnar & Co., LLC is acting as a co-manager for this offering.

Filed Under: Business/Financial News, Featured, Funding Roundup, News Well, Vascular Tagged With: Ra Medical

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About Sean Whooley

Sean Whooley is an associate editor who mainly produces work for MassDevice, Medical Design & Outsourcing and Drug Delivery Business News. He received a bachelor's degree in multiplatform journalism from the University of Maryland, College Park. You can connect with him on LinkedIn or email him at [email protected].

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