BioAmber Prices Offering Of 2.80 Mln Shares At $12/shr - Quick Facts

(RTTNews) - BioAmber Inc. (BIOA) announced that it has priced an underwritten registered offering of 2.80 million shares of its common stock at a price of $12.00 per share, and granted the underwriters in the offering a 30-day option to purchase up to an additional 420,000 shares of its common stock.

The gross proceeds to the company will be $33.6 million. The offering is expected to close on July 21, 2014, subject to customary closing conditions.

Credit Suisse Securities (USA) LLC and Canaccord Genuity Inc. are acting as the bookrunning managers for the offering.

Net proceeds, after underwriting discounts and commissions and other estimated fees and expenses payable by BioAmber will be about $31.1 million.

BioAmber stated that it intends to use the net proceeds of the offering for working capital and other general corporate purposes.