ConforMIS priced an underwritten public offering of 13.3 million shares of common stock. Here are five things to know:
1. The company is pricing the stock at $1.50 per share before the underwriting discounts. The public offering is expected to raise $20 million in gross proceeds.
2. Underwriters have the ability to purchase up to 2 million additional shares of common stock over a 30-day period.
3. The acting joint book-running managers are Cowen and Canaccord; Suntrust Robinson Humphrey is the lead manager.
4. ConforMIS expects to close the offering around Jan. 29.
5. ConforMIS owns or exclusively in-licenses around 420 issued patents and pending patent applications related to its proprietary iFit Image-to-Implant technology and customized implants for joint replacement.