By Ronda Fears
Nashville, Jan. 31 - ThermoGenesis Corp. raised $32 million in a follow-on offering of 8 million shares priced at $4.00 each, discounted from Monday's close of $4.51.
Deutsche Bank Securities Inc. is bookrunner of the spot sale.
Based in Rancho Cordova, Calif., ThermoGenesis said the estimated $30.1 million of net proceeds are anticipated to be used for general working capital, and possibly for acquisition of technology, assets and companies, or accelerating certain research and development projects. The company develops blood processing systems and disposables that enable the manufacture, preservation and delivery of cell and tissue therapy products.
| Issuer: | ThermoGenesis Corp.
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| Issue: | Follow-on stock offering
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| Gross proceeds: | $32 million
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| Net proceeds: | $30.1 million
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| Shares: | 8 million shares
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| Greenshoe: | 800,000 shares
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| Price: | $4.00 per share
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| Bookrunner: | Deutsche Bank Securities Inc.
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| Co-manager: | Jefferies & Co.
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| Pricing date: | Jan. 30
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| Settlement date: | Feb. 3
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| Stock symbol: | Nasdaq: KOOL
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| Stock price: | $4.51 at close Jan. 30
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