NeuroPace (NPCE) said late Thursday it plans to raise $65 million via an underwritten public offering of its shares.

The company said it intends to grant its underwriters a 30-day option to purchase up to an additional 15% of the shares offered in the public offering.

Proceeds will be used to help buy back all of the shares held by its significant stockholder, KCK Ltd., the company said.

NeuroPace shares were down over 10% in after-hours activity.