Invuity prices $28m offering

Invuity (NSDQ:IVTY) last week priced a new $28 million public offering of common shares, looking to float $2.8 million shares at $10 a piece.

The new offering comes with a 30-day underwriters option to purchase an additional 420,000 shares at $10 per share, San Francisco-based Invuity said.

Piper Jaffray & Co and Leerink Partners are acting as joint book-runners for the offering, with William Blair & Co acting as co-managers, according to a press release.

Last October, Invuity said it launched its Eikon LT illuminated retractor platform with tissue grips. The announcement was made at the American Society of Plastic Surgeon’s annual scientific conference.

The Eikon LT features atraumatic teeth on the distal tip of the retractor blade to aid plastic surgeons in creating breast pockets underneath pectoral muscle while minimizing tissue trauma, Boston-based Invuity said.

In September, Invuity said data from a retrospective analysis of its Eikon illuminated retractor system during nipple-sparing mastectomies showed positive economic and clinical benefits.

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