Alliqua Closes $3.8 Million Public Offering

Alliqua BioMedical (NASDAQ:ALQA) closed a offer of 9,473,250 shares of its common stock at a public offering price of $0.40 per share.
As quoted in the press release:

All of the shares in the offering were sold by Alliqua, with total gross proceeds to the Company of approximately $3.8 million, before deducting underwriting discounts and estimated offering expenses.

Rodman & Renshaw, a unit of H.C. Wainwright & Co., acted as the sole book-running manager for the offering.

The Company intends to use the net proceeds from this offering primarily for working capital and general corporate purposes, and to pay the Company’s monthly obligations under its credit agreement with Perceptive Credit Opportunities Fund, L.P.

The public offering was made pursuant to a shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission (“SEC”) and declared effective on September 25, 2014. A final prospectus supplement and the accompanying prospectus relating to the offering was filed with the SEC on March 31, 2017 and is available on the SEC’s website located at https://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from H.C. Wainwright & Co., LLC, 430 Park Avenue 4th Floor, New York, NY 10022, or by calling (646) 975-6996 or by emailing placements@hcwco.com or at the SEC’s website at https://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Alliqua BioMedical, Inc.

Alliqua is a regenerative technologies company committed to restoring tissue and rebuilding lives. Through its sales and distribution network, together with its proprietary products, Alliqua offers solutions that allow clinicians to utilize the latest advances in regenerative technologies to bring improved patient outcomes to their practices.

Alliqua currently markets the human biologic regenerative technologies, Biovance® and Interfyl™. The Company also markets its Mist Therapy System®, which uses painless, noncontact low-frequency ultrasound to stimulate cells below the wound bed to promote the healing process. In addition to these technologies, Alliqua markets its line of dressings for wound care under the SilverSeal® and Hydress® brands, as well as its TheraBond 3D® advanced dressing which incorporates the TheraBond 3D® Antimicrobial Barrier Systems technology.

In addition, Alliqua can provide a custom manufacturing solution to partners in the medical device and cosmetics industry, utilizing its hydrogel technology. The Company has locations in Yardley, Pennsylvania, Langhorne, Pennsylvania and Eden Prairie, Minnesota.

Click here to read the full press release.

Source: www.nasdaq.com