Urologix Prices Follow-On Offering Of 5.2 Mln Shares At $0.75 A Piece

6/29/2012 1:23 PM ET

Urologix, Inc. (ULGX: Quote) said Friday that it has priced its registered follow-on firm commitment underwritten public offering of 5.2 million shares of its common stock at a public offering price of $0.75 per share.

In addition, the company has granted the underwriter a 45-day option to purchase up to an additional 780,000 shares of its common stock to cover overallotments.

The public offering is expected to close on or about July 5.

The company plans to use the net proceeds from the offering to fund its sales and marketing initiatives, to make certain required payments related to its license of the Prostiva RF Therapy System technology, to support its research and development activities and for working capital and general corporate purposes.

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