FocalTherics (FOCL) said Tuesday it has commenced an underwritten public offering of American Depositary Shares, with all ADSs to be sold by the company.

The terms and size of the offering will be determined at pricing. FocalTherics also intends to grant underwriters a 30-day option to purchase up to an additional 15% of the ADSs offered.

The company plans to use the net proceeds for operating costs, capital expenditures and general corporate purposes, including working capital.

The company also reported preliminary Q2 revenue of $12.7 million to $13.2 million, up 34% to 39% from a year earlier.