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Fibrocell prices public offering of $10.5M; shares down 31% premarket

  • Fibrocell Science (NASDAQ:FCSC) prices a public offering of 13.6M shares of its common stock and common warrants at a combined price of $0.77.
  • The common warrants will expire five years from the date of issuance. The Common Stock and the accompanying warrants can only be purchased together but will be issued separately.
  • Underwriters are granted a 30-day option to purchase up to 2M shares at a purchase price of $0.76 per share and/or common warrants.
  • The expected gross proceeds are ~$10.5M. Net proceeds will be used for the continued clinical and pre-clinical development of its product candidates, FCX-007 and FCX-013, for the research and other general corporate purposes.
  • Closing date is December 11.
  • Shares are down 31% premarket on robust volume. Yesterday's close was $1.00.

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FCSC--
Fibrocell Science, Inc.