Shockwave Medical (NSDQ:SWAV) filed a common stock equity offering with the SEC priced at $75 million.

The Santa Clara, Calif.–based company said in yesterday’s filing that at the assumed public offering price of $36.14 that was reported on Nov. 11, it expects to offer nearly 2.1 million shares of common stock.

Shockwave said it anticipates approximately $70 million in net proceeds, which could rise to $80.6 million if underwriters exercise their option to purchase up to $11,250,000 in additional common stock shares. The initial terms for the IPO were set in February.

The company plans to use the offering’s net proceeds along with existing cash and short-term investments for sales and marketing activities relating to its IVL (intravascular lithotripsy) sonic pressure-wave system designed to treat calcified coronary lesions. Shockwave won FDA breakthrough device designation for the system in September.

Shockwave said the funding will go toward expanding its sales force, along with additional medical affairs and educational efforts, along with growing research and development, clinical studies, working capital and general corporate purposes. The company said it believes the funding from the offering, combined with existing funds, should cover its planned operations for the next year. However, Shockwave expects to need additional capital after the offering.

Shares of SWAV took a hit this morning, dropping -7.6% at $33.99 per share.