This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Derma Sciences Closes $36.4 Million Underwritten Public Offering Of Common Stock, Including Full Over-Allotment

Derma Sciences, Inc. (the “Company”) (Nasdaq: DSCI), a medical device and pharmaceutical company focused on advanced wound care, today announced the closing of an underwritten public offering of 3,521,300 shares of common stock at a price to the public of $10.34 per share, which includes the exercise of the underwriters’ option to purchase 459,300 shares of common stock to cover over-allotments. Piper Jaffray & Co. was 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.

Total net proceeds to the Company were approximately $33.8 million after deducting the underwriting discount and estimated offering expenses. The Company plans to use these proceeds for the continued development of its drug candidate DSC127 for the treatment of diabetic foot ulcers and for general corporate purposes.

“The closing of this offering is a significant achievement in supporting our strategy of leadership in advanced wound care,” said Edward J. Quilty, president and chief executive officer of the Company. “We plan to begin our Phase 3 studies with DSC127 in diabetic patients with non-healing foot ulcers in the coming weeks and we believe the capital raised through this offering provides the Company with the financial strength and opportunistic flexibility to maximize shareholder value.

“In the meantime,” Mr. Quilty continued, “we continue to focus activities on our commercial advanced wound care product line, and our dedicated sales force continues to offer a wide variety of technologically innovative, high-margin products to the 1,200 wound care centers across the U.S. and select international markets.”

The offering was made pursuant to a shelf registration statement (No. 333-173870) that was previously filed with and declared effective by the U.S. Securities and Exchange Commission (“SEC”) and a registration statement (No. 333-185298) filed with and declared effective by the SEC pursuant to Rule 462(b) promulgated under the Securities Act of 1933, as amended.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,654.77 +369.26 2.27%
S&P 500 1,987.66 +47.15 2.43%
NASDAQ 4,812.7080 +115.1720 2.45%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs