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Amedica prices $15M underwritten public offering

Amedica Corp. priced an underwritten public offering of units for gross proceeds of $15 million.

Each unit will be priced at $1,000 and will consist of 1 share of series B convertible preferred stock, with a stated value of $1,100, and warrants to purchase up to 758 common shares. The warrants are initially exercisable at $1.60 per share and expire five years from the issue date.

The Salt Lake City-based medical device developer expects the offering to close May 14, subject to closing conditions.

Maxim Group LLC serves as sole book-running manager in the offering.