Soliton, Inc. (Nasdaq: SOLY) announced a public offering of 4,216,868 shares at $8.30 each, aiming for gross proceeds of $35.0 million. The underwriters have a 30-day option for an additional 632,530 shares. The closing date is set for June 30, 2020, pending customary conditions. Cantor Fitzgerald & Co. leads the offering, which is based on a prior SEC registration. The funds are intended to further develop Soliton's proprietary platform technology, particularly its RAP device for tattoo removal. However, risks related to the offering's success are acknowledged.
Soliton, Inc. (Nasdaq: SOLY) announced plans for an underwritten public offering of its common stock, including a 30-day option for underwriters to purchase an additional 15%. The offering's completion is subject to market conditions, with no guarantee on final terms. Cantor Fitzgerald & Co. is the sole book-running manager for the offering. The proceeds will support the company’s proprietary RAP device for tattoo removal and further development of technology for cellulite treatment. The offering is registered with the SEC and details will be available on their website.
Soliton, Inc. (Nasdaq: SOLY) announced positive results from its pivotal cellulite clinical trial at the AAD 2020 VMX Virtual Conference. The study showed an average 32.5% improvement in the Cellulite Severity Score and 91.9% of participants reported satisfaction with their results. The trial included 67 subjects, with 62 evaluated for results, revealing that 85% responded positively to treatment after a single session. No serious adverse events were reported, and the average pain score was 2.4/10. Soliton plans to utilize these findings for a 510(k) submission to the FDA for product clearance.