TearLab up 11% After Announcing Pricing of a Registered Financing
TearLab Corporation (NASDAQ: TEAR) is trading higher on the session after announcing pricing of its registered financing. THe company sells 2.5 million shares of its common stock at $3.17 to investors.
According to TearLab, the proceeds of the offering will be used for working capital and general corporate purposes. The offering is expected to close on or about July 18, 2012, subject to the satisfaction of customary closing conditions.
TearLab is currently trading at $3.66, a gain of $0.37 or 11.25%.
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