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ProPhase Labs Prices Public Offering Of 3.00 Mln Shares At $12.50/shr

ProPhase Labs Inc. (PRPH), a diversified medical science and technology company, said that it has priced an underwritten public offering of 3.00 million shares of common stock at $12.50 per share, for gross proceeds of $37.50 million.

In addition, the company has granted the underwriters a 30-day option to purchase up to an additional 450,000 shares to cover over-allotments, if any. All of the shares are being offered by ProPhase.

The company expects to close the offering on January 21 and plans to use the net proceeds from the offering for working capital and other general corporate purposes.

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