Pulse Biosciences closes $45m round

Pulse Biosciences (NSDQ:PLSE) said late last week it closed a $45 million rights offering.

In the offering, the Hayward, Calif.-based company issued approximately 3.6 million shares of common stock at approximately $12.57 per share for total gross proceeds of $45 million.

Pulse Bioscience board chair Robert Duggan, who owns 35% of the company’s outstanding common stock prior to the offering, also participated in the round, purchasing approximately 3.1 million shares for an additional investment of approximately $39.5 million.

After the purchase, Duggan now owns approximately 44% of the company’s outstanding shares, Pulse Biosciences said in a press release.

Shares in Pulse Biosciences are trading 3.6% today, at $11.51 as of 1:06 p.m. EDT.

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