BUZZ-Butterfly Network takes flight after equity raise

Updates stock activity, recasts throughout

** Shares of medical imaging device maker Butterfly Network BFLY.N reverse premarket losses and last up 18.2% at $4.15 on Thurs after follow-on priced

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

** Offering, which represented ~11% of co's total shares outstanding, priced at 10.3% discount to stock's close on Weds

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

** With move on Thurs, co has roughly $885 mln market cap, per LSEG

** Stock now up ~33% YTD, but well off its all-time high of $29.13 hit in early 2021

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