Bookrunner Aegis Capital will have $456,000 greenshoe option for deal
By Devika Patel
Knoxville, Tenn., Dec. 21 - Echo Therapeutics, Inc. said it priced a $3.04 million public sale of stock with a $456,000 greenshoe. The deal was announced Thursday.
The company will sell 3.2 million common shares at $0.95 apiece. The per-share purchase price is a 20.83% discount to the closing share price of $1.20 on Dec. 19.
Aegis Capital Corp. is the sole bookrunner.
Settlement is expected Dec. 27.
Franklin, Mass.-based Echo Therapeutics is a dual platform-enabled specialty therapeutics and diagnostics company.
| Issuer: | Echo Therapeutics, Inc.
|
| Issue: | Common stock
|
| Amount: | $3.04 million
|
| Greenshoe: | $456,000
|
| Shares: | 3.2 million
|
| Price: | $0.95
|
| Warrants: | No
|
| Bookrunner: | Aegis Capital Corp.
|
| Co-manager: | Feltl and Co.
|
| Announcement date: | Dec. 20
|
| Pricing date: | Dec. 20
|
| Settlement date: | Dec. 27
|
| Stock symbol: | Nasdaq: ECTE
|
| Stock price: | $1.20 at close Dec. 19
|
| Market capitalization: | $38.59 million
|
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