BioAmber Inc., a a producer of sustainable chemicals made without fossil fuels, today announced that it has priced an underwritten public offering of 2,600,000 shares of its common stock at a price of $5.00 per share. The gross proceeds to the Company will be $13.0 million. The offering is expected to close on January 22, 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, Inc. 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 $11.8 million.
BioAmber intends to use the net proceeds of the offering for working capital and other general corporate purposes.
This post was prepared by Solar Thermal Magazine staff.