Investing.com -- CapsoVision , Inc. (NASDAQ: CV ), a commercial-stage medical technology company, began trading on the Nasdaq Capital Market on Tuesday. Shares opened at the initial offering price of $5, but have since fallen 12% to $4.40, as of 2:45 ET.
The company priced its initial public offering (IPO) at $5.00 per share, offering 5,500,000 shares of common stock. The gross proceeds from the offering are expected to be approximately $27.5 million, before deducting underwriting discounts, commissions, and other offering expenses.
CapsoVision specializes in advanced imaging and artificial intelligence technologies used in capsule endoscopy solutions. The company has granted its underwriters a 30-day option to purchase up to an additional 825,000 shares at the initial public offering price, less underwriting discounts and commissions.
The Benchmark Company, LLC and Roth Capital Partners are serving as joint book-running managers for the offering.
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