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Endra Life Sciences prices common stock offering

Ann Arbor, Mich.-based Endra Life Sciences Inc. priced its underwritten public offering of 1,285,000 common shares at $2.10 apiece.

The healthcare equipment company granted National Securities Corp., the sole book-running manager in the transaction, an overallotment option to buy up to an additional 192,750 common shares.

Endra expects to raise gross proceeds of about $2.7 million in the offering. If the underwriter's option is fully exercised, gross proceeds may amount to about $3.1 million.

The transaction is expected to close by Oct. 15, subject to customary closing conditions.

Through the offering, the developer of medical imaging technology may be able to regain compliance with Nasdaq's listing rule on the minimum stockholders' equity value of $2.5 million.