Amedica sets the price on $4.5m round

Amedica (NSDQ:AMDA) today priced an upcoming public offering, looking to raise approximately $4.5 million in the round.

The Salt Lake City, Utah-based company is looking to offer shares at 51¢, each of which include 0.45 warrants for the purchase of additional common shares.

Each full warrant offered in the round is exercisable for 1 share of common stock at an exercise price of 55¢ per share. Warrants will be exercisable immediately, and will expire 5 years from the date of issuance, according to a press release.

The offering will also include a 45-day underwriter’s option to purchase up to an additional 15% of the shares of common stock as well as 15% of the warrants.

Maxim Group is acting as the sole book-runner for the offering, which is expected to close on Jan. 24, 2017.

Last month, Amedica said it is refiling an application with the FDA seeking approval for its cancellous-structure ceramic cervical implant.

The decision comes on the heels of “encouraging results” from a study which showed rapid bone growth into porous silicon nitride, according to the company.

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