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Vericel raises $20M in stock offering

Vericel Corp. raised about $20 million after closing a previously announced public offering.

The company issued 7,130,000 shares at $2.75 apiece, inclusive of the overallotment option for additional 930,000 stocks.

Funds raised will help the company advance its drug pipeline.

Piper Jaffray & Co. acted as manager for the offering.