TearLab Plans Stock Offering

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4/10/2012 4:06 PM ET

TearLab Corp. (TEAR: Quote, TLB.TO) said Tuesday that it plans to offer shares of its common stock in an underwritten public offering.

The company also expects to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering to cover over-allotments, if any.

The proceeds of the offering will be used for working capital and general corporate purposes.

Craig-Hallum Capital Group LLC is acting as the sole book-running manager for the offering.

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by RTT Staff Writer

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