Rancho Cordova’s Cesca Therapeutics Inc., a stem cell medicine and medical technology company, has announced a registered public offering of up to 900,000 shares of the its common stock at $3 per share.
The offering is expected to close on or about Friday, subject to customary closing conditions. Dawson James Securities Inc. is acting as exclusive placement agent for the offering.
The company expects the offering to generate about $2.7 million. After deducting the agent’s commission and other offering expenses, net proceeds are projected at about $2.3 million.
Cesca said it intends to use the proceeds for general corporate purposes, including working capital.
The offering prospectus filed with the U.S. Securities and Exchange Commission can be seen at sec.gov.
Cesca recently reported revenue of $3.1 million for the quarter ended Sept. 30, down from $3.8 million in 2016. The local company reported a quarterly net loss attributable to common stockholders of $2.4 million, or 24 cents per share, based on approximately 10 million basic and diluted common shares outstanding.