Stock Alert: Venus Concept Shares Up 41.73% In Late Trade

(RTTNews) - Shares of Venus Concept Inc. (VERO) rallied $1.69 or 41.73% to $5.74 in extended trading session on Tuesday. The stock has been trading in the range of $2.06 - $11.85 for the past one year, and closed Tuesday's regular trade at $4.05, down 3 cents or 0.74%.

The company said it entered into a common stock purchase agreement for up to $31 million with Lincoln Park Capital Fund LLC, a Chicago-based institutional investor. Upon execution of the purchase agreement, Lincoln Park made an initial purchase of $1.0 million of common stock.

Venus Concept intends to use any proceeds it receives under the purchase agreement for working capital and general corporate purposes.