Uroplasty has granted the underwriters a 30-day option to purchase up to an additional 219,960 shares of common stock at the offering price to cover over-allotments. The proceeds from the sale of shares will be used primarily to expand its sales and marketing organization in the US, to conduct clinical studies to support its marketing efforts and for working capital purposes.
Craig-Hallum Capital is serving as bookrunning lead manager for the offering with Noble International Investments acting as co-manager.