FORT LAUDERDALE, Fla. (AP) — Mako Surgical Corp. said Thursday it priced an offering of 5.5 million shares of stock at $9.65 per share.
The company said it is selling the stock to fund activities including commercialization, sales, marketing, general administrative activities, and research and product development. Piper Jaffray is the underwriter of the offering, and it will have an option to buy an additional 825,000 shares over the next 30 days.
If all those shares are sold, Mako's proceeds would total about $61 million before expenses and discounts.
The offering is expected to close around Nov. 8.
The company's shares closed at $10.49 Wednesday, meaning Mako's sale price comes at a discount of 8 percent.
In afternoon trading, the stock picked up 40 cents, or 3.8 percent, to $10.89. Mako stock has traded between $8.47 and $14.90 over the last year.