Endologix Announces Public Offering of 2.7 Million Shares of Common Stock
Endologix (Nasdaq: ELGX) announced today an underwritten public offering of 2,700,000 shares of its common stock. The Company has granted the underwriter a 30-day option to purchase an additional 405,000 shares of common stock from the Company to cover over-allotments, if any. The closing of the offering is expected to take place on or about June 5, 2012, subject to the satisfaction of customary closing conditions. Piper Jaffray acted as the sole underwriter for this offering. The last reported sale price of our common stock as reported by the Nasdaq Global Select Market on May 30, 2012 was $14.10 per share.
Endologix plans to use the net proceeds from the financing for general corporate purposes, which may include sales and marketing investments, research and development, capital expenditures, working capital and general and administrative expenses.
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