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