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Sonoma Pharmaceuticals to raise $4.6M in common stock offering

Sonoma Pharmaceuticals Inc. said it expects to raise about $4.6 million in a common share offering.

The Petaluma, Calif.-based specialty pharmaceutical company said it entered into a placement agency agreement with Dawson James Securities Inc. in relation to a public offering, which comprises 1,428,570 common shares, par value 0.01 cent per share at a price of $3.50 per share.

As part of the offering, Sonoma also entered into a separate securities purchase agreement with Montreux Equity Partners V LP, in relation to the sale and purchase of 571,428 common shares at a price of $3.50 per share.

Dawson James Securities served as the lead placement agent in the offering, while the Benchmark Co. LLC acted as a co-placement agent.