Surgalign Holdings announces $50M direct offering

Updated 6/11/2021 11:04 AM

Deerfield-based Surgalign Holdings, Inc., a global medical technology company focused on the evolution of digital surgery, has entered into a definitive securities purchase agreement with several institutional investors for the issuance and sale of an aggregate of 28,985,508 shares of its common stock and warrants to purchase up to an aggregate of 28,985,508 shares of its common stock at a purchase price of $1.725 per share of common stock and related warrant in a registered direct offering priced at-the-market under Nasdaq rules.

The registered direct offering is expected to close on or about June 14.


H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The gross proceeds from the offering are expected to be approximately $50 million before deducting placement agent fees and other offering expenses. Surgalign currently intends to use the net proceeds from the offering for working capital and general corporate purposes, including preparation for approval, utilization and ongoing development of its digital surgical guidance system.

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