Derma Sciences, Inc. (the “Company”)(Nasdaq: DSCI), a medical device and pharmaceutical company focused on advanced wound care, today announced the pricing of an underwritten public offering of 3,062,000 shares of common stock at a price to the public of $10.34 per share. The Company has granted the underwriters a 30-day option to purchase an additional 459,300 shares of common stock to cover over-allotments, if any. The offering is expected to close on or about December 11, 2012, subject to customary closing conditions. Piper Jaffray & Co. is acting as the sole book-running manager in the offering, with Oppenheimer & Co. Inc. and Canaccord Genuity Inc. acting as co-managers and Roth Capital Partners acting as financial advisor to the Company.
Net proceeds from the sale of the shares of common stock, after underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $29.3 million, or $33.8 million if the underwriters exercise their option to purchase additional shares in full.. The Company plans to use the net proceeds from the offering for the continued development of DSC127 and for general corporate purposes.
The offering is being made pursuant to a shelf registration statement that was previously filed with and declared effective by the Securities and Exchange Commission (SEC) and a registration statement filed with and declared effective by the SEC pursuant to Rule 462(b) promulgated under the Securities Act of 1933, as amended.
A preliminary prospectus supplement and accompanying prospectus related to the offering was filed with the SEC on December 5, 2012. A final prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC. Electronic copies of the prospectus supplement and accompanying prospectus can be obtained through the website of the SEC at www.sec.gov. When available, copies of the prospectus supplement and accompanying prospectus relating to the offering may also be obtained from Piper Jaffray & Co., 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or email firstname.lastname@example.org, or by telephone at (800) 747-3924.This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This offering may be made only by means of a prospectus supplement and accompanying base prospectus.