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Restoration Robotics prices common stock offering

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Restoration Robotics prices common stock offering

Restoration Robotics Inc. priced an underwritten public offering of 10 million common shares at $1.50 each.

Underwriters have a 30-day overallotment option to buy up to 1.5 million additional common shares at the offering price.

The company expects the offering to close Aug. 14, subject to customary closing conditions.

Net proceeds will help expand commercialization activities and fund the launch of Restoration Robotics' Artas iX physician-assisted robotic system. Funds will also go toward working capital and general corporate purposes.

William Blair & Co. LLC is acting as sole book-running manager for the offering, with National Securities Corp., a unit of National Holdings Inc., and Roth Capital Partners as co-managers. Craig-Hallum Capital Group LLC is acting as independent financial adviser.

San Jose, Calif.-based Restoration Robotics develops and sells image-guided robotic systems for certain medical procedures.