The offering will raise gross proceeds of $25.2 million before deduction of the underwriting discount and other offering expenses, Ocera said in a statement. The offering includes a 30-day option for underwriters to purchase up to 630,000 additional shares of common stock, which would result in additional gross proceeds of $3.78 million if fully exercised.
The stock was down 16.69% to $5.94 at 3:38 p.m. More than 1.1 million shares changed hands, which dwarfed the average volume of 46,163.
Must Read: Warren Buffett's 25 Favorite StocksSTOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts