Derma Sciences Prices $75 Mln Stock Offering

(RTTNews) - Derma Sciences, Inc. (DSCI) said Friday that it has priced an underwritten public offering of about 6.52 million shares of common stock at a price to the public of $11.50 per share.

The company has granted the underwriters a 30-day option to purchase an additional 978,261 shares of common stock to cover over-allotments, if any.

The offering is expected to close on or about January 29.

Gross proceeds from the sale of the shares of common stock are expected to be about $75 million, or $86 million if the underwriters exercise their option to purchase additional shares in full.

Derma Sciences expects to use the proceeds from the offering for the continued development of DSC127, for sales force expansion, and for general corporate purposes.