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ImmuCell to raise $2.7M in public offering

ImmuCell Corp. is looking to raise approximately $2.7 million from the sale of 417,807 common shares priced $7.30 apiece.

The underwritten offering is expected to close by Dec. 21 with Craig-Hallum Capital Group acting as the sole underwriter.

The company intends to use the net proceeds to complete construction of a facility to produce active ingredient Nisin, expand production capacity for certain products, hire additional regional sales managers and engage a consultant.