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Home » Silk Road Medical closes allotment option

Silk Road Medical closes allotment option

May 21, 2020 By Sean Whooley

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.

Filed Under: Business/Financial News, Funding Roundup, Neurological Tagged With: Silk Road Medical Inc.

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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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