TCMD - Tactile Systems Technology prices $32.5M in stock offering

• Tactile Systems Technology ( NASDAQ: TCMD ) priced its underwritten public offering of 2.5M shares at $13/share.
• Gross proceeds are expected to be $32.5M; net proceeds to be used for expanding commercial activities, funding milestone payments, supporting new product development, funding potential acquisitions and providing  working capital and for other general corporate purposes.
• Underwriters granted 30-day option to purchase up to an additional 375K shares.
• Offer is expected to close on or about Feb.28, 2023.
• Shares trading 10.1% lower premarket.

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