04:53 PM EST, 11/21/2025 (MT Newswires) -- Conavi Medical ( CNVIF ) said after trade Friday, having seen its shares drop near 8% in regular hours, it has filed a preliminary short form prospectus for a proposed public offering of common shares and pre-funded warrants.

A statement noted the offering will be conducted on a "commercially reasonable efforts agency basis", with the size of the deal, number of securities and pricing to be set at the time of marketing. Conavi said net proceeds will be used to obtain U.S. FDA 510(k) clearance for its next-generation Novasight Hybrid imaging system, support a limited market release and commercial launch in the United States, and for working capital.

The company expects the deal to close on or around Dec. 12, subject to entering a definitive agency agreement and receiving regulatory and TSX Venture Exchange approvals. The securities may also be offered on a private placement basis in certain jurisdictions outside Canada.

Conavi Medical ( CNVIF ) designs and manufactures imaging technologies used in minimally invasive cardiovascular procedures. Its shares closed down $0.05 to $0.59 on TSXV.