Alliqua Biomedical (NSDQ:ALQA) today said it priced a public stock offering worth $30 million for its hydrogel wound care technology.
The Langhorne, Pa.-based company said it plan to offer nearly 6.9 million shares at $4.55 apiece.
The offering is slated to close May 4 and includes a 30-day over-allotment option of another 989,000 shares for the flotation’s underwriters, the company said.
"The company intends to use the net proceeds from this offering to fund the commercial expansion of its marketed products, to pursue additional product platforms, and for working capital and general corporate purposes," Alliqua said.
Last year CEO Dave Johnson, the former chief executive at ConvaTec, told MassDevice.com that Alliqua’s vision is "really to build a suite of technological solutions so that wound care practitioners around the world can deal with the challenges of chronic and acute wounds."
"If you think in fast forward, 3 or 5 years from now, when a wound care doctor comes in and sees a patient, I’d like to think the first thing they will think is, ‘You know, go and get that Alliqua salesperson, because they always have 2 or 3 innovative technologies that can help me help my patient more effectively.’ That’s really what our vision is – to continue to build out the portfolio to be able to do that," Johnson told us.
