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Fibrocell prices $6M offering

Fibrocell Science Inc. is looking to raise $6 million via the sale of securities to several institutional investors.

The Exton, Pa.-based biotechnology company will offer 2,038,224 shares at $2.85 per share to raise $5.8 million and also sell $200,000 worth warrants to buy up to 1,528,668 shares of the company at $2.86 each.

Fibrocell intends to use the proceeds for the continued clinical and pre-clinical development of its product candidates, FCX-007 and FCX-013, and for other general corporate purposes.

The offering is expected to close by May 31 with H.C. Wainwright & Co. acting as the exclusive placement agent.