Sonoma Pharmaceuticals Inc. is selling 1,428,571 common shares at $3.50 apiece to raise about $5 million of gross proceeds in a "best efforts" public offering.
Closing is expected to occur March 6, subject to customary closing conditions.
Dawson James Securities Inc. is acting as the lead placement agent and sole book runner in the offering, with Benchmark Co. LLC as co-placement agent.
Sonoma Pharmaceuticals is a Petaluma, Calif.-based specialty pharmaceutical company that develops and sells treatments for dermatological conditions and advanced tissue care.
