NxStage Medical Prices Stock Offering at Discount to Thursday Closing Price, Shares Fall LAWRENCE, Mass. -- Medical device maker NxStage Medical Inc. on Friday said it priced a sale of 5.6 million shares at $8.75 per share.

The offer price represents a discount to NxStage's Thursday closing price of $9.04 and is below a 52-week low of $8.78 hit intraday on Thursday. Its stock fell 24 cents, or 2.7 percent, to $8.80 in premarket activity.

NxStage said it expects net proceeds of about $44.6 million from selling 5.5 million shares. In a filing with the Securities and Exchange Commission, the company said it plans to use the proceeds to fund continuing operations, provide working capital, and finance general corporate needs.

Shareholders will sell 113,371 shares through the offering, but the company will not receive the proceeds.

The company has granted underwriters a 30-day overallotment option to buy up to an additional 825,000 shares. Merrill Lynch & Co. and JPMorgan are lead managers of the offering.

NxStage had initially planned the offering when its stock price was higher.