Ruthigen to price initial public stock sale between $12.00 and $14.00

Bookrunner Aegis Capital raises funds for clinical trial of RUT58-60

By Devika Patel

Knoxville, Tenn., Oct. 16 - Ruthigen, Inc. will sell 1.5 million common shares in its initial public offering with a 45-day greenshoe of 225,000 additional shares, according to a Form S-1 filed Thursday with the Securities and Exchange Commission. The deal was announced on Aug. 8.

The shares will be sold at a price expected to fall between $12.00 and $14.00 per share.

Aegis Capital Corp. is the bookrunning manager. Dawson James Securities, Inc. and Chardan Capital Markets LLC are the co-managers.

Proceeds will be used for a planned phase 1/2 clinical trial of RUT58-60, to establish and validate an independent research and development and cGMP manufacturing facility and for general corporate purposes, including working capital.

The Santa Rosa, Calif., biopharmaceutical company is a subsidiary of Oculus Innovative Sciences, Inc. The company expects its shares will trade on the Nasdaq under the symbol "RTGN."

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