Echo Therapeutics to price public sale of stock with 45-day greenshoe

Aegis Capital assists in raising funds for general corporate purposes

By Devika Patel

Knoxville, Tenn., Jan. 31 - Echo Therapeutics, Inc. will price a public offering of stock, according to a preliminary prospectus supplement filed Thursday with the Securities and Exchange Commission.

Aegis Capital Corp. is the bookrunner and has a 45-day greenshoe.

Proceeds will be used for general corporate purposes, including manufacturing preparations and key tooling and equipment purchases, planned clinical studies, usability and validation testing, sales and marketing channel preparations, promotional and training materials, European operations planning, preparations for ISO certification, implementation of document management software, other research and development expenses, potential repayment of debt and general and administrative expenses.

Franklin, Mass.-based Echo Therapeutics is a dual platform-enabled specialty therapeutics and diagnostics company.

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