Sonoma Pharmaceuticals Announces Pricing of $5 Million Public Offering of Common Stock
03 March 2018 - 12:00AM
Sonoma Pharmaceuticals, Inc. (Nasdaq: SNOA, Warrants – SNOAW) today
announced the pricing of a “best efforts” public offering of up to
1,428,571 shares of common stock at a public offering price of
$3.50 per share.
The gross proceeds to Sonoma Pharmaceuticals, Inc. from this
offering are approximately $5.0 million before deducting the
placement agent commissions and other estimated offering expenses
payable by Sonoma. The offering is expected to close on or about
March 6, 2018, subject to customary closing conditions.
Dawson James Securities, Inc. is acting as the lead placement
agent and sole book runner and The Benchmark Company, LLC is acting
as the co-placement agent on this offering.
This offering is being made pursuant to an effective shelf
registration statement on Form S-3 (File No. 333-221477) previously
filed with the Securities and Exchange Commission (“SEC”) and
subsequently declared effective on November 27, 2017. A
preliminary prospectus supplement relating to the offering has been
filed, and a final prospectus supplement relating to the offering
will be filed, with the Securities and Exchange Commission. The
securities may be offered only by means of a written prospectus
forming a part of the effective registration statement. When
available, copies of the final prospectus supplement and
accompanying prospectus will be available on the SEC’s website at
www.sec.gov, or may be obtained by contacting Dawson James
Securities, Inc., Attention: Prospectus Department, 1 North Federal
Highway, 5th Floor, Boca Raton, FL 33432, mmaclaren@dawsonjames.com
or toll free at 866.928.0928.
This press release does not constitute an offer to sell or a
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 Sonoma Pharmaceuticals Sonoma
Pharmaceuticals is a specialty pharmaceutical company that develops
and markets solutions for the treatment of dermatological
conditions and advanced tissue care. The company’s
products, which are sold throughout the United States and
internationally, have improved outcomes for more than five million
patients globally by reducing infections, itch, pain, scarring
and harmful inflammatory responses. The company's headquarters are
in Petaluma, California, with manufacturing operations in the
United States and Latin America. European marketing and sales
are headquartered in Roermond, Netherlands. More information can be
found at www.sonomapharma.com.
Forward-Looking StatementsExcept for historical
information herein, matters set forth in this press release are
forward-looking within the meaning of the "safe harbor" provisions
of the Private Securities Litigation Reform Act of 1995, including
statements about the commercial progress and future financial
performance of Sonoma Pharmaceuticals, Inc. and its subsidiaries
(the “Company”). These forward-looking statements are identified by
the use of words such as “look forward,” “expected,” and “will be,”
among others. Forward-looking statements in this press release are
subject to certain risks and uncertainties inherent in the
Company’s business that could cause actual results to vary,
including such risks that the offering of the shares may not be
completed, that the market price of the Company’s securities is
volatile, that the Company has broad discretion in its use of the
proceeds, that stockholders may face dilution, the Company may not
be able to obtain additional funding, as well as uncertainties
relative to varying product formulations and a multitude of diverse
regulatory and marketing requirements in different countries and
municipalities, and other risks detailed in the Company’s filings
with the Securities and Exchange Commission, including the annual
report on Form 10-K, filed on June 28, 2017. The Company disclaims
any obligation to update these forward-looking statements, except
as required by law.
Sonoma Pharmaceuticals® is a registered trademark of Sonoma
Pharmaceuticals, Inc. All other trademarks and service marks are
the property of their respective owners.
Media and Investor
Contact:
Sonoma Pharmaceuticals,
Inc.
Dan McFaddenVP of Public and Investor Relations(425)
753-2105dmcfadden@sonomapharma.com
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