RxSight falls on pricing $50 mln equity offering

RxSight

08/02/2023 15:58

** RxSight Inc's  RXST.O  shares down 9.2% at $12.50 after
ophthalmic medical device co raises equity
    ** Shares fall as much as 11.3% to $12.21, a two-week low   
    ** Co sells 4 mln shares at $12.50, 9.2% discount to stock's
last close
    ** RXST plans to use net proceeds for continued commercial
and marketing expansion, product development, R&D and clinical
development
    ** Co has 27.7 mln shares outstanding for about $382 mln
market cap through Tues
    ** BofA sole bookrunner for offering
    ** With move on the session, RXST shares down ~1% to start
2023 and off ~20% over the past six months
    ** About 276k shares have traded so far, well exceeding
stock's 25-DMA volume of about 54k, per Refinitiv
    ** Co went public in Jul 2021 in IPO priced at $16
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))