Offering brokered by agents Piper Jaffray and Roth Capital Partners
By Devika Patel
Knoxville, Tenn., June 24 - TearLab Corp. said it plans a $7 million private placement of units. Piper Jaffray & Co. is the lead agent; Roth Capital Partners is co-placement agent.
The company will sell about 3.85 million units of one common share and one warrant at $1.82 apiece. Each warrant will be exercisable at $1.86. The strike price reflects a 5.09% premium to $1.77, the June 23 closing share price.
Settlement is expected June 29.
The San Diego company develops and markets lab-on-a-chip technologies that enable eye care practitioners to test for disease markers in tears.
| Issuer: | TearLab Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $7 million
|
| Units: | 3.85 million (approximate)
|
| Price: | $1.82
|
| Warrants: | One warrant per unit
|
| Warrant strike price: | $1.86
|
| Agents: | Piper Jaffray & Co. (lead), Roth Capital Partners
|
| Pricing date: | June 24
|
| Settlement date: | June 29
|
| Stock symbol: | Nasdaq: TEAR
|
| Stock price: | $1.77 at close June 23
|
| Market capitalization: | $26.14 million
|
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