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Iridex proposes public stock offering

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Iridex will offer 1,666,667 shares of its common stock at a price to the public of $6 per share and will grant underwriters a 30-day option to purchase up to 250,000 additional shares of common stock in the public offering, according to a press release.

Net proceeds from the offering will go toward working capital and other general corporate purposes, as well as licensing or acquiring intellectual property or technologies to incorporate into its products, the release said.

The sole book-running manager of the proposed offering will be Stifel, with Roth Capital Partners acting as lead manager.

The offering is expected to close Sept. 18, and gross proceeds are expected to be approximately $10 million.