Hyperfine banks on $17.5M public stock offering

Portable MRI developer Hyperfine announced an underwritten public offering of 14 million shares of the company's Class A common stock, anticipating gross proceeds of $17.5 million.

Pricing the offering at $1.25 per share, the company also allowed underwriter Lake Street Capital Markets a 30-day option to purchase up to 15% at the public offering price, less underwriting discounts and commissions.

Hyperfine said it intends to use the proceeds for working capital and general corporate purposes, including commercial, manufacturing, and research and development activities.

In a third-quarter 2025 financial update (end-September 30), the company noted successful commercial rollout of its next-generation Swoop brain MRI system powered by Optive AI software, hospital site conversions to the new model, and that it has initiated a commercial launch in office settings.