RxSight stock falls 9.22% after pricing of public offering

RxSight Inc shares fell by 9.22% to $12.50 Wednesday morning after the company announced the pricing of a public offering of common stock.

RxSight says the company expects to sell 4,000, 000 shares of its common stock at a price of $12.50 per share. RxSight also gives the underwriter a 30 day option to purchase up to 600,000 shares of its common stock at the public offering price, as well as less underwriting discounts and commissions.

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The offering is expected to close on or about February 10. RxSight plans to use the net proceeds from the offering for continued commercial and marketing expansion, funding of product development, research and clinical development, and for working capital and general corporate purposes.

According to the data released by Benzinga Pro, RXST has a 52 week high of $16.99 and a 52 week low of $9.78.