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Nuvectra closes $26M common stock offering

Nuvectra Corp. closed its underwritten follow-on public offering of 3,248,750 common shares priced at $8.00 apiece with gross proceeds of about $26 million.

The shares sold included the full exercise of the underwriters' option to buy 423,750 additional shares.

Nuvectra plans to use the net proceeds to fund the expansion of product development and commercialization activities, as well as for general corporate purposes.

Piper Jaffray is acting as sole book-running manager, and JMP Securities and SunTrust Robinson Humphrey are acting as co-managers for the offering.