SAN DIEGO, July 30, 2013 (GLOBE NEWSWIRE) -- TearLab Corporation (Nasdaq:TEAR) (TSX:TLB) today announced that it has closed the previously announced underwritten public offering of 2,990,000 shares of its common stock at a price to the public of $13.50 per share for gross proceeds of approximately $40.4 million. The shares include 390,000 shares of common stock sold pursuant to the over-allotment option granted by TearLab to the underwriters, which option was exercised in full. The net proceeds from the sale of the shares, after deducting the underwriters' discounts and other estimated offering expenses payable by TearLab, will be approximately $37.5 million.
TearLab currently plans to use the net proceeds from this offering for commercialization of its products, research and development, working capital and other general corporate purposes.
Canaccord Genuity Inc. and Craig-Hallum Capital Group LLC acted as joint book-running managers for the offering. Roth Capital Partners, LLC and Feltl and Company, Inc. acted as co-managers.A shelf registration statement (File No. 333-189372) relating to these securities was filed on June 17, 2013, as amended, and declared effective by the Securities and Exchange Commission on July 12, 2013. An additional registration statement relating to these securities (File No. 333-190116), which became effective upon filing, was also filed on July 25, 2013 by TearLab pursuant to Rule 462(b) of the Securities Act of 1933. A final prospectus supplement and accompanying prospectus describing the terms of the offering was filed with the SEC on July 25, 2013. Copies of the prospectus supplement and accompanying prospectus relating to the offering may be obtained by contacting the below book-running managers at the following addresses:
|Canaccord Genuity Inc.|
|Attention: Syndicate Department|
|99 High Street, 12th Floor|
|Boston, MA 02110|
|Telephone: (617) 371-3900|
|Craig-Hallum Capital Group LLC|
|222 South Ninth Street, Suite 350|
|Minneapolis, MN 55402|
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