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Silk Road Medical closes allotment option

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Silk Road Medical (NSDQ:SILK) announced that underwriters fully exercised and closed on additional options to purchase shares in a stock offering.

The offering of more than 6.8 million shares included the exercise of the option to purchase more than 1 million additional shares at the public offering price of $39 per share. Silk Road Medical did not receive any proceeds from the sale, as securityholders were the sellers.

J.P. Morgan and BofA Securities acted as joint book-running managers of the offering. Citigroup also acted as book-running manager. Stifel acted as co-manager.

Sunnyvale, Calif.-based Silk Road Medical develops transcarotid artery revascularization (TCAR) technology as a potential treatment for stroke.

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