New Issue: Derma Sciences to sell $6.1 million private placement of shares

By Devika Patel

Knoxville, Tenn., April 1 - Derma Sciences, Inc. said it has arranged a $6.1 million private placement of stock and warrants.

The company will sell 6.1 million shares at $1.00 per share. Investors also will receive 3.1 million warrants, which are exercisable at $1.20.

Settlement is expected April 2.

Princeton, N.J.-based Derma Sciences manufactures and markets advanced wound care products.

Issuer: Derma Sciences, Inc.

Issue: Stock

Amount: $6.1 million

Shares: 6.1 million

Price: $1.00

Warrants: For 3.1 million

Warrant strike price: $1.20

Pricing date: April 1

Settlement date: April 2

Stock symbol: OTCBB: DSCI

Stock price: $0.99 at close on March 31

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