Echo Therapeutics to price public sale of shares with 45-day greenshoe

Aegis Capital will help raise proceeds for general corporate purposes

By Devika Patel

Knoxville, Tenn., June 7 - Echo Therapeutics, Inc. plans to conduct a public offering of common stock with a 45-day over-allotment option, according to a preliminary prospectus supplement filed Friday with the Securities and Exchange Commission.

Aegis Capital Corp. is the underwriter.

Proceeds will be used for general corporate purposes, including manufacturing and key equipment purchases, clinical trial expenses, sales and marketing channel preparations, European operations planning and implementation, other research and development expenses and general and administrative expenses.

Franklin, Mass.-based Echo Therapeutics is a dual platform-enabled specialty therapeutics and diagnostics company.

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