TearLab (TLB) Closes 3M Offering at $3.60/Share; Nets $11.3M
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TearLab Corporation (Nasdaq: TEAR) has closed an underwritten public offering of 3 million shares of its common stock at a price to the public of $3.60 per share.
Prior to the closing, the underwriter exercised in full the option to purchase an additional 450,000 shares of common stock at a price of $3.60 per share solely to cover over-allotments. The Company plans to use the approximately $11.3 million in total net proceeds for working capital and general corporate purposes.
Craig-Hallum Capital Group LLC is acting as the sole book-running manager for the offering.
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Prior to the closing, the underwriter exercised in full the option to purchase an additional 450,000 shares of common stock at a price of $3.60 per share solely to cover over-allotments. The Company plans to use the approximately $11.3 million in total net proceeds for working capital and general corporate purposes.
Craig-Hallum Capital Group LLC is acting as the sole book-running manager for the offering.
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