Shares of Silk Road Medical, Inc. were trading lower in Monday’s after-hours market following news the company commenced a proposed underwritten public offering of $100 million of its common shares.
At 5:12 p.m. EDT, the company’s stock had fallen 5.7% to trade at $40.05 per share. The stock finished the day’s regular session with a 4.76% gain at $42.47 per share.
The medical device company said it is “focused on reducing the risk of stroke and its devastating impact.”
The company has a market cap of $1.43 billion, 35.24 million shares outstanding and a public float of 33.86 million shares.