iCAD (ICAD) Prices 1.22M Share Common Offering at $18/Sh

iCAD, Inc. ( NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced the pricing of an underwritten public offering of 1,222,222 shares of its common stock at a public offering price of $18.00 per share. The gross proceeds of the offering to the Company are expected to be approximately $22.0 million, before deducting the underwriting discounts and commissions and other estimated offering expenses. In addition, the Company granted the underwriters a thirty-day option to purchase up to an additional 171,516 shares of common stock at the public offering price, less underwriting discounts and commissions.

The closing of the offering is expected to occur on or about March 5, 2021, subject to the satisfaction of customary closing conditions.

Guggenheim Securities is acting as sole book-running manager for the offering. JMP Securities, Craig-Hallum Capital Group, and Lake Street Capital Markets, LLC are acting as lead managers for the offering and Laidlaw & Company (UK) Ltd. and Colliers Securities LLC are acting as co-managers for the offering.

The Company intends to use the net proceeds of the offering for working capital and general corporate purposes.

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