Ouster (OUST) priced an underwritten public offering of 3.62 million common shares at $55.22 apiece, for expected gross proceeds of about $200 million, the company said Thursday.

The underwriter was granted a 30-day option to purchase up to an additional 543,281 shares at the public offering price.

The company said it plans to use the net proceeds for working capital and other general corporate purposes.

The offering is expected to close on or about Monday.

Ouster shares were down 8% in premarket activity.