TearLab (TEAR) Prices 2.6M Offering at $13.50/Share

TearLab Corporation (Nasdaq: TEAR) announced the pricing of an underwritten public offering of 2,600,000 shares of its common stock at a price to the public of $13.50 per share for gross proceeds of $35.1 million. The net proceeds from the sale of the shares, after deducting the underwriters' discounts and other estimated offering expenses payable by TearLab, will be approximately $32.6 million. TearLab has also granted the underwriters a 30-day option to purchase up to an additional 15 percent of the shares of common stock offered in the public offering to cover overallotments.

TearLab currently plans to use the net proceeds from this offering for commercialization of its products, research and development, working capital and other general corporate purposes. The offering is expected to close on or about July 30, 2013, subject to the satisfaction of customary closing conditions.

Canaccord Genuity Inc. and Craig-Hallum Capital Group LLC are acting as joint book-running managers for the offering. Roth Capital Partners, LLC and Feltl and Company, Inc. are acting as co-managers.

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