SRGA - Surgalign Holdings prices $20M stock offering

Surgalign Holdings (NASDAQ:SRGA) has priced its previously announced underwritten public offering of 43,478,264 shares and warrants to purchase up to an aggregate of 32,608,698 shares of common stock at a combined effective public offering price of $0.46/share and accompanying 0.75 of a warrant. The gross proceeds are expected to be ~$20M. Underwriters are granted a 30-day option to purchase up to an additional 6,521,736 shares of common stock and/or warrants to purchase up to an additional 4,891,302 shares of common stock. Each whole warrant is exercisable immediately at an exercise price of $0.60/share and will expire five years following the date of issuance. All of the securities being sold in the offering are being offered by Surgalign. Net proceeds from the offering will be used for working capital and general corporate purposes. Offering is expected to close on or about February 15, 2022.

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Surgalign Holdings prices $20M stock offering