Apollo Endosurgery prices $31m offering

Apollo Endosurgery today priced an upcoming public offering, looking to raise approximately $31 million.

In the offering, Austin, Texas-based Apollo Endosurgery said it will offer 5.7 million shares of its common stock at $5.50 per share, before underwriting discounts and commissions. The round also includes a 45-day underwriters option for an additional 853,363 shares of common stock.

The round is expected to close on July 25, and is subject to customary closing conditions, according to a press release. Craig-Hallum Capital Group and Roth Capital Partners are acting as joint book-runners for the offering.

Apollo Endosurgery has not yet stated how it plans to spend funds raised in the round.

Last December, Apollo Endosurgery said it closed a reverse merger with Lpath (NSDQ:LPTN) in which Apollo put another $29 million into the combined company.

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