Skyline Medical prices $3m offering

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Skyline Medical (NSDQ:SKLN) today priced an upcoming offering, looking to raise approximately $2.8 million.

The Minneapolis, Minn.-based company said it will offer 2.9 million units at 95¢ per unit, with each unit consisting of 1 share of the company’s common stock and 0.3 of a Series E warrant.

Each whole Series E warrant will allow for the purchasing of one share of common stock at an exercise price of $1 per whole share, Skyline Medical.

The offering includes a 45-day underwriter’s option to purchase an additional 290,000 shares of common stock at the public offering price per unit. Funds raised in the round will support working capital and general corporate purposes, the company said.

Dawson James Securities is acting as the sole underwriter for the offering, which the company said it expects to close January 9, according to a press release.

Last month, Skyline Medical said it inked a deal to license the MiSeqDx next-generation sequencing technology from Illumina (NSDQ:ILMN).

The post Skyline Medical prices $3m offering appeared first on MassDevice.

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