Surgalign Holdings (SRGA) Prices 25M Share Common Offering at $1.50/Sh

Surgalign Holdings, Inc. (NASDAQ: SRGA) today announced the pricing of an underwritten public offering of 25,000,000 shares of its common stock at a price to the public of $1.50 per share, before underwriting discounts and commissions. All of the shares of common stock are being offered by Surgalign. In addition, Surgalign has granted the underwriters a 30-day option to purchase up to an additional 3,750,000 shares of common stock at the public offering price, less the underwriting discount and commissions.

Piper Sandler and Cantor are acting as joint book-running managers and representatives of the underwriters, BTIG is acting as lead manager and Craig-Hallum Capital Group and Lake Street Capital Markets are acting as co-managers for the offering.

The offering is expected to close on February 1, 2021, subject to customary closing conditions. At the closing, Surgalign will receive approximately $37.5 million in gross proceeds from the offering, before deducting the underwriting discounts and commissions and estimated offering expenses payable by Surgalign. Surgalign intends to use the net proceeds from the offering for general corporate purposes, which may include, without limitation, working capital, capital expenditures and the financing of possible future acquisitions.

A registration statement on Form S-1 (File No. 333-251828) relating to the public offering of common stock described above was filed with the SEC and was declared effective on January 27, 2021.

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