SRGA - Surgalign Holdings to raise $12M in direct stock offering
- Surgalign Holdings ( NASDAQ: SRGA ) stated Monday it has signed a definitive deal to sell up to $12M worth shares in direct stock offering at-the-market.
- It comprises of the sale of up to 6M shares and accompanying Series A warrants and up to 1.5M Series B warrants at a combined price of $2 per unit.
- The medical technology company said it intends to use the net proceeds for working capital and general corporate purposes.
- Closing of the offering is expected on Nov. 16, 2022.
- SRGA shares are down 8% in pre-market trading on Monday and have lost over 92% in the past 1-year.
- Earlier: Surgalign announces restructuring to focus on key growth areas, expects savings of ~$35M
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Surgalign Holdings to raise $12M in direct stock offering