Viveve (NSDQ:VIVE) last week priced a follow-on offering worth $20 million.
Englewood, Colo.-based Viveve’s eponymous device uses cryogen-cooled monopolar radiofrequency tech designed to treat gynecological conditions. The company said Dec. 6 that it floated 13.3 million shares at $1.50 apiece, for gross proceeds of $20.0 million.
The offering includes a 30-day underwriters option on another 2.0 million shares that would reap $3.0 million if fully exercised. The offering is slated to close Dec. 11.
Viveve said it plans to use the proceeds to continue commercializing its device, winning further regulatory clearances and conducting clinical trials of the Viveve device in treating stress urinary incontinence.
Cowen is the lone book-runner for the offering, with Raymond James as lead manager and Mizuho Securities co-manager.
