Pulse Biosciences, Inc. (Nasdaq: PLSE), a company utilizing its innovative CellFX® Nanosecond Pulsed Field Ablation™ (nsPFA™) technology, has announced plans to commence a rights offering.
The Board of Directors has approved a rights offering of up to $60 million worth of units (“Units”) available to all holders of record of the Company’s common stock. Each Unit will include one share of Common Stock and warrants to purchase one share of Common Stock at an exercise price based on the subscription price per Unit.
The subscription price per Unit will be determined as the lesser of $10.00 per Unit or the volume-weighted average price of the Common Stock over a specified period. The Company anticipates receiving gross proceeds of up to $60 million, with additional proceeds of up to $66 million upon full exercise of the warrants. The offering will include an over-subscription right, subject to terms and conditions, allowing rights holders to purchase additional Units.
Robert Duggan, the Company’s Executive Chairman, intends to participate in the rights offering alongside other investors. The offering will be registered with the Securities and Exchange Commission (SEC) under a prospectus on Form S-3.
Pulse Biosciences is dedicated to bioelectric medicine innovation and aims to enhance patient quality of life. The Company’s CellFX® nsPFA™ technology targets cell treatment while preserving surrounding tissue, with applications in treating atrial fibrillation and other healthcare markets.
