BUZZ-Butterfly Network slides on stock offering launch

Shares of digital health firm Butterfly Network BFLY.N down 10% at $3.16 in extended trading as it seeks equity

Burlington, Massachusetts-based co commences stock offering; deal size not disclosed

It plans to use net proceeds to fund development and commercialization of new and existing products and services, and general corp purposes

TD Cowen, William Blair and Lake Street are bookrunners

Co has ~213 mln shares outstanding for roughly $750 mln market cap, and ~156 mln shares of public float, per LSEG

BFLY on Weds closed down 2.8% at $3.51

Shares up 12.5% YTD and have more than tripled over the past six months