Oxford Immunotec Global PLC priced its underwritten public offering of 2.5 million ordinary shares and expects gross proceeds of about $40.1 million.

The company also granted the sole underwriter, BTIG LLC, an option to buy up to an additional 375,000 ordinary shares. The offering is expected to close on or about Aug. 18.

Oxford Immunotec Global plans to use the net proceeds for working capital and general corporate purposes.