Jul 22 2010
Uroplasty, Inc. (Nasdaq: UPI) announced today that it intends, subject to market and other conditions, to offer shares of its common stock in an underwritten public offering. Uroplasty also intends to grant the underwriters of the offering an option to purchase additional shares of common stock to cover over-allotments, if any.
Uroplasty intends to use the net proceeds from the sale of the common stock to fund the commercialization of its Urgent PC system, to fund additional clinical trials to expand the applications for its products and for general corporate purposes, including working capital.
Oppenheimer & Co. Inc. is the sole book-running manager for the offering and JMP Securities LLC is acting as co-manager for the offering.
SOURCE Uroplasty, Inc.