NeuroPace announces pricing of $65M offering of common stock

NeuroPace (NPCE) announced the pricing of an underwritten public offering of 6.5M shares of its common stock at a public offering price of $10.00 per share. All of the shares are being sold by NeuroPace. The aggregate gross proceeds from the offering are expected to be $65M, before deducting the underwriting discounts and commissions and offering expenses. The offering is expected to close on February 18, subject to customary closing conditions. NeuroPace expects to use approximately $49.5 million of the net proceeds from the offering to repurchase 5,270,845 shares held by NeuroPace’s significant stockholder, KCK Ltd., at $9.40 per share, which is the price per share at which the underwriters will purchase shares of NeuroPace’s common stock from the company in the public offering. J.P. Morgan, Cantor, Wells Fargo Securities and Leerink Partners are acting as joint book-running managers for the offering and Lake Street Capital Markets is acting as lead manager for the offering.