By Kelly Cloonan
Shares of Ouster fell after the company priced its underwritten public offering of about 3.6 million shares at $55.22 apiece.
The stock declined 6.8% to $55.97 in premarket trading on Thursday. Shares had more than doubled year to date at Wednesday's market close.
Ouster--which makes light detection and ranging sensors, also known as lidar, for use in autonomous vehicles, drones and robotics--expects gross proceeds from the offering of about $200 million. It intends to use the net proceeds from the offering for working capital and other general corporate purposes.
The company said it has granted the offering's underwriter a 30-day option to purchase up to an additional 543,281 shares at the public offering price. Northland Capital Markets is the sole bookrunner for the offering.
Ouster expects the offering to close July 6.
Write to Kelly Cloonan at kelly.cloonan@wsj.com