NeuroPace announces $65M common stock offering

NeuroPace (NPCE) announced that it intends to offer and sell, in an underwritten public offering, $65M of shares of its common stock. All of the shares are being offered by NeuroPace. NeuroPace expects to use a substantial portion of the proceeds from the public offering to repurchase all of the shares held by NeuroPace’s significant stockholder, KCK Ltd., at a price per share equal to the price per share at which the underwriters will purchase shares of common stock from NeuroPace in the public offering. NeuroPace intends to use the remaining net proceeds from the offering, together with any net proceeds received from the underwriters’ option, for general corporate purposes, which may include clinical trial and other research and development expenses, selling, general and administrative expenses, debt reduction and working capital. 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.