BioAmber, a leader in renewable materials, today announced that it has priced an underwritten public offering of 2.6 million shares of its common stock at a price of $5 a share. The gross proceeds to the company will be $13m. The offering is expected to close on 22 January 2016, subject to customary closing conditions.
Rodman & Renshaw, a unit of H.C. Wainwright & Co, LLC, is acting as the sole bookrunning manager for the offering. Raymond James & Associates is acting as co-manager for the offering.
Net proceeds, after underwriting discounts and commissions and other estimated fees and expenses payable by BioAmber will be approximately $11.8m.
BioAmber intends to use the net proceeds of the offering for working capital and other general corporate purposes.
For more information, please contact BioAmber.
