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Canadian medtech Breathe BioMedical (BRTH) has disclosed terms for an $8M US initial public offering.
Breathe said in an SEC filing that it was looking to offer 1.6M shares priced between $4 and $6 per share, which would raise $8M if priced at the midpoint. In a prior filing, Breathe indicated it was interested in raising around $12M.
Underwriters would receive a 45-day option to buy up to 240K additional shares to cover over-allotments. Maxim Group is serving as the sole bookrunner on the deal. The company hopes to list its shares on Nasdaq under the symbol BRTH.
Based in New Brunswick, Canada, Breathe has been developing a breath test for use as an adjunct to mammography for the early detection of breast cancer in dense breast tissue.
Breathe first filed for the IPO in June.
More on Breathe BioMedical Inc.
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