Vericel Corp. priced an underwritten public offering of 6.2 million common shares at $2.75 apiece.
The company granted underwriters an overallotment option to buy up to an additional 930,000 shares.
Gross proceeds from the offering are expected to total about $17 million, before deducting the underwriting discount and other estimated offering expenses.
The offering is expected to close Dec. 21, subject to customary closing conditions.
Piper Jaffray & Co. is acting as the sole manager for the offering.