ReShape Lifesciences (NSDQ:RSLS) said yesterday it inked approximately $1.5 million in offering deals with a number of institutional investors.

The San Clemente, Calif.-based company said it will float 374,572 shares of its common stock at a price of $3.92 per share in the registered direct offerings.

ReShape Lifesciences will also issue warrants for the purchase of up to 280,929 shares of common stock at a purchase price of approximately 13¢ per warrant, expecting to bring in $30,000.

Warrants offered will be exercisable at a price of $3.93 per share, are exercisable immediately and will expire after five and one-half years from the date of issuance.

Proceeds from the offering will help support commercialization, clinical and product development and other general corporate purposes, according to a press release.

Last week, the FDA released a notice warning of five new patient deaths related to two liquid-filled intragastric balloon systems used to treat obesity, produced by Apollo Endosurgery (NSDQ:APEN) and ReShape Lifesciences.