NeuroPace Announces Pricing of Public Offering of $65 Million of Common Stock

About this update from Neuropace, Inc.

[{"type":"text","content":"MOUNTAIN VIEW, Calif., Feb. 14, 2025 (GLOBE NEWSWIRE) -- NeuroPace, Inc. (Nasdaq: NPCE) today announced the pricing of an underwritten public offering of 6,500,000 shares of its common stock at a public offering price of $10.00 per share. All of the shares are being sold by NeuroPace. The aggregate gross proceeds from the offering are expected to be $65 million, before deducting the underwriting discounts and commissions and offering expenses. The offering is expected to close on February 18, 2025, subject to customary closing conditions. In addition, NeuroPace has granted the underwriters a 30-day option to purchase up to an additional 975,000 shares of its common stock at the public offering price. NeuroPace expects to use approximately $49.5 million of the net proceeds from the offering to repurchase 5,270,845 shares held by NeuroPace’s significant stockholder, KCK Ltd., at $9.40 per share, which is the price per share at which the underwriters will purchase shares of NeuroPace’s common stock from the company in the public offering. NeuroPace intends to use the remaining net proceeds from the offering, together with any net proceeds received from the underwriters’ option, for general corporate purposes, which may include clinical trial and other research and development expenses, selling, general and administrative expenses, debt reduction and working capital. J.P. Morgan, Cantor, Wells Fargo Securities and Leerink Partners are acting as joint book-running managers for the offering and Lake Street Capital Markets is acting as lead manager for the offering. The shares of common stock described above are being offered by NeuroPace pursuant to a shelf registration statement filed by NeuroPace with the Securities and Exchange Commission (SEC) that was declared effective by the SEC on November 22, 2022. The offering is being made only by means of a prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available on the SEC’s website located at http://www.sec.gov. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus suppleme...

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