Shares of ClearPoint Neuro, Inc. (CLPT) slipped over 16% on Thursday morning after the company priced an offering of 2.3 million common shares at $6.50, below its market price.
CLPT is currently trading at $6.45, down $1.27 or 16.45%, on the Nasdaq. The stock opened its trading at $6.95 after closing Wednesday at $7.72. The stock has traded between $4.05 and $10.95 in the past 52-week period.
ClearPoint Neuro priced public offering of 2.3 million common shares at $6.50 per share. The offering is expected to close on March 4, 2024.
The company intends to use the proceeds for general corporate purposes, which may include research and development expenditures, potential acquisitions of or investments in business, products and technologies that complement the Company's business, or repayment of the Company's indebtedness.
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