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Investing.com -- CapsoVision , Inc. (NASDAQ:CV), a commercial-stage medical technology company, began trading on the Nasdaq Capital Market on Tuesday. Shares opened at the initial offering price of $5, but have since fallen 12% to $4.40, as of 2:45 ET.
The company priced its initial public offering (IPO) at $5.00 per share, offering 5,500,000 shares of common stock. The gross proceeds from the offering are expected to be approximately $27.5 million, before deducting underwriting discounts, commissions, and other offering expenses.
CapsoVision specializes in advanced imaging and artificial intelligence technologies used in capsule endoscopy solutions. The company has granted its underwriters a 30-day option to purchase up to an additional 825,000 shares at the initial public offering price, less underwriting discounts and commissions.
The Benchmark Company, LLC and Roth Capital Partners (WA:CPAP) are serving as joint book-running managers for the offering.
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