NeuroPace Plans $65M Stock Offering, Share Buyback

NeuroPace has announced a public offering of 6.5 million shares of common stock priced at $10 each, aiming to raise approximately $65 million. The company plans to use around $49.5 million of the proceeds to repurchase shares from its key stakeholder, KCK Ltd., at a price of $9.40 per share. The remaining funds will be allocated for general corporate purposes, which may include research and development, clinical trials, and debt reduction. Following the announcement, NeuroPace's stock saw a significant drop of around 10% in premarket trading. The offering is scheduled to close on February 18, subject to standard closing conditions. NeuroPace's RNS system, which treats drug-resistant epilepsy, is the only FDA-approved brain-responsive neurostimulation platform currently available.