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.
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.
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