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STAAR Surgical prices $67.8M common stock offering


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STAAR Surgical prices $67.8M common stock offering

STAAR Surgical Co. priced its underwritten public offering of 1,739,000 common shares to raise gross proceeds of about $67.8 million.

The California based manufacturer of implantable lenses has granted the underwriters an option to buy up to an additional 260,850 shares.

The offering is expected to close Aug. 10.

STAAR intends to use the net proceeds to fund its operations, which may include advancing the commercialization of its implantable Collamer lens family of products.

The company may also use the proceeds to fund pipeline research and development activities and clinical trials, fund incremental investments in automation and precision manufacturing, and capital expenditures, and for general corporate purposes, including working capital.

Canaccord Genuity is acting as the sole book-running manager for the offering.