The company’s original registration for $159 million was to fund its transcarotid artery revascularization (TCAR) technology for the treatment of stroke.
The Sunnyvale, Calif.-based company is now proposing an offering of 4.8 million shares of its common stock at a maximum share price of $39.50 each, including 105,000 shares that the underwriters will have an option to purchase. This brings the underwriters’ option offering to 630,000 shares, according to today’s filing.
The company is developing a neuroprotection and stent system called Enroute as an aid to TCAR procedures.
Silk Road cleared just more than $109 million in its initial public offering in April, including a fully subscribed underwriters option.
Earlier this week, the company also provided preliminary second-quarter results, estimating sales at $14.9 million, up from $7.8 million for Q2 2018. Silk Road also said it expects an operating loss of $6 million for the quarter ended June 30, 2019, up from a $4.8 million loss in the same quarter of last year.