SAN DIEGO, April 11, 2012 (GLOBE NEWSWIRE) -- TearLab Corporation (Nasdaq:TEAR) (TSX:TLB) (“TearLab” or the “Company”) today announced that it has priced an underwritten public offering of 3 million shares of its common stock at a price to the public of $3.60 per share for gross proceeds of $10.8 million. The net proceeds from the sale of the shares, after deducting the underwriter’s discounts and other estimated offering expenses payable by TearLab, will be approximately $9.8 million. The Company has also granted the underwriter a 30-day option to purchase up to an additional 450,000 shares of common stock offered in the public offering to cover overallotments, if any.
