IRIDEX Closes Follow-On Offering
On September 18, 2018, IRIDEX, an ophthalmology company focused on the development and commercialization of novel products and procedures used to treat glaucoma and retinal diseases, closed its underwritten public offering of 1,666,667 shares of its common stock at a price to the public of $6.00 per share. In addition, the company granted the underwriters a 30-day option to purchase up to 250,000 additional shares of its common stock in the public offering and the option was exercised prior to closing. Wilson Sonsini Goodrich & Rosati represented IRIDEX in the offering.
According to a company press release, IRIDEX intends to use the net proceeds from the offering for working capital and other general corporate purposes. The company may also use a portion of the net proceeds for licensing or acquiring intellectual property or technologies to incorporate in its products, capital expenditures, to fund possible investments in and acquisitions of complementary businesses, partnerships, minority investments, or to repay indebtedness. Stifel acted as the sole book-running manager for the offering and Roth Capital Partners acted as the lead manager for the offering.
The WSGR team that represented IRIDEX in the offering included:
For more information, please see IRIDEX's press release.