Company also terminates $20 million at-the-market equity offering
By Devika Patel
Knoxville, Tenn., Feb. 12 - Mela Sciences, Inc. said it priced a $7.93 million public sale of stock.
The company will sell 6.1 million common shares at $1.30 per share. The price per share is a 23.08% discount to $1.69, the Feb. 11 closing share price.
Settlement is expected Feb. 15.
Cowen and Co., LLC is the underwriter.
Proceeds will be used for the commercial launch of MelaFind in the United States and the European Union, research and development activities, general corporate purposes and working capital.
Mela also said it terminated a $20 million at-the-market equity offering agreement with agent Cowen and Co., LLC that was negotiated on June 15, 2012. As of Tuesday, the company has sold about 6.6 million shares through the offering for roughly $14.4 million.
Mela is an Irvington, N.Y., medical device company.
| Issuer: | Mela Sciences, Inc.
|
| Issue: | Common stock
|
| Amount: | $7.93 million
|
| Shares: | 6.1 million
|
| Price: | $1.30
|
| Warrants: | No
|
| Underwriter: | Cowen and Co., LLC
|
| Pricing date: | Feb. 12
|
| Settlement date: | Feb. 15
|
| Stock symbol: | Nasdaq: MELA
|
| Stock price: | $1.69 at close Feb. 11
|
| Market capitalization: | $48.04 million
|
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