Regentis Biomaterials said late Wednesday it has priced its initial public offering of about 1.3 million shares at $8 per share for gross proceeds of $10 million.

Underwriters have been granted a 45-day option to purchase up to 187,500 additional shares to cover overallotments.

The shares are expected to begin trading on the NYSE American this Thursday under the ticker symbol, "RGNT."

Regentis said it plans to use the net proceeds from offering, expected to close Friday, primarily for development activities, including completing its pivotal trial and preparing the PMA submission for GerlinC, as well as for general corporate purposes such as debt repayment and deferred compensation payments.