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news.US-based ProUroCare Medical has announced the public offering of 3.05 million units at $1 per unit, each unit consisting of one share of common stock and one redeemable warrant to purchase one share of common stock at an exercise price of $1.30 per share.
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The company has granted the underwriter of the offering a 45-day option to purchase up to an additional 457,500 units to cover over-allotments, if any.
Net proceeds of this offering will be used to fund certain operating expenses and development costs as the company pursues FDA 510(k) clearance of its ProUroScan prostate imaging system and to retire certain short-term liabilities.