Echo Therapeutics, Inc. (ECTE) said Thursday that it has priced an underwritten public offering of 4.025 million shares of its common stock, offered at a price to the public of $2.70 per share.
The gross proceeds to Echo from this offering are expected to be about $10.9 million before deducting the underwriting discount and other estimated offering expenses payable by Echo.
Echo Therapeutics has granted the underwriters a 45-day option to purchase up to an aggregate of 603,750 additional shares of its common stock to cover over-allotments, if any.
The offering is expected to close on or about June 19, 2013, subject to customary closing conditions.
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