NASDAQ-listed Venus Concept Inc. (VERO), shares plunged 18.5% to $2.07 in the early hours today after a global medical aesthetic technology leader announced that it aims to make an underwritten public offering of Venus common stock under its existing shelf registration statement, subject to pertinent market and other conditions. Venus Concept will be selling all the common stock and warrants in the proposed offering. We cannot guarantee whether the offering will be completed or whether the offering will be of the desired size or terms.
In addition to funding its research and development activities, Venus Concept plans to use the net proceeds from the proposed offering for general corporate purposes.
Ladenburg Thalmann is acting as lead manager, and Oppenheimer & Co. Inc. is serving as sole book-running manager of the proposed offering.