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BUZZ-Butterfly Network falls after stock offering priced

ReutersJan 30, 2025 1:02 PM

Shares of medical imaging device maker Butterfly Network BFLY.N down 10% premarket to $3.16 after overnight follow-on priced

Burlington, Massachusetts-based firm late Weds sold 24 mln shares at $3.15 for nearly $76 mln gross proceeds

Offering price represents 10.3% discount to stock's last sale

Co intends to use net offering proceeds to fund development and commercialization of new and existing products and services, and general corp purposes

With ~213 mln shares outstanding, co has ~$748 mln market cap. It has ~156 mln shares of public float, per LSEG

TD Cowen, William Blair and Lake Street Capital Markets are bookrunners for offering

Through Weds, shares up 12.5% YTD and have more than tripled over the past six months

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