Portable MRI developer Hyperfine is making a direct offering of Class A common stock to its investors, with gross proceeds expected to be approximately $6 million.
Lake Street Capital Markets is the offering’s placement agent.
The Guilford, CT-based company said that the agreement is for the purchase and sale of 4,511,278 shares of the firm’s Class A common stock and warrants to purchase up to 4,511,278 shares. Each share of Class A common stock and accompanying warrant will be sold together at a combined offering price of $1.33. The deal is expected to close on or about February 12.
The proceeds to Hyperfine from the offering are estimated to be approximately $6 million, according to the firm. It intends to use the proceeds from the offering as working capital and general corporate funds.