ClearPoint Neuro Announces Pricing of Public Offering of 2,307,694 Shares of Common Stock
Summary
ClearPoint Neuro Announces Pricing of Public Offering of 2,307,694 Shares of Common StockSOLANA BEACH, Calif., Feb. 29, 2024 (GLOBE NEWSWIRE) -- ClearPoint Neuro, Inc. (Nasdaq: CLPT) (the Company), a global device, cell, and gene therapy-enabling company offering precise navigation to the brain and spine, announced today the pricing of its underwritten public offering of 2,307,694 shares of its common stock at a price to the public of $6.50 per share. The offering is expected to close on March 4, 2024, subject to customary closing conditions.The Company intends to use the net proceeds from this offering for general corporate purposes, which may include research and development expenditures, potential acquisitions of or investments in business, products and technologies that complement the Companys business, or repayment of the Companys indebtedness.Lake Street Capital Markets, LLC is acting as the sole book-running manager for the proposed offering.A shelf registration statement on Form S-3 relating to the securities being sold in this offering was declared effective by the Securities and Exchange Commission (the SEC) on November 20, 2023. The Company uniquely provides both established clinical products as well as preclinical development services for controlled drug and device delivery. The Companys flagship product, the ClearPoint Neuro Navigation System, has FDA clearance and is CE-marked. These statements are based on managements current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including risks and uncertainties related to completion of the public offering on the anticipated terms or at all, market conditions and the satisfaction of customary closing conditions related to the public offering, and those factors described in the Risk Factors section of the Companys Annual Report on Form 10-K for the year ended December 31, 2022, and the Companys Quarterly Reports on Form 10-Q for the three months ended March 31, 2023, June 30, 2023, and September 30, 2023, all of which have been filed with the SEC, and the Companys Annual Report on Form 10-K for the year ended December 31, 2023, which the Company intends to file with the SEC on or before March 31, 2024.