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Fibrocell prices $10.5M common stock offering

Fibrocell Science Inc. priced an underwritten public offering of 13,636,364 common shares at 77 cents apiece to raise $10.5 million in gross proceeds.

Each common share is bundled with a warrant to buy an additional stock, also at 77 cents apiece.

H.C. Wainwright & Co. LLC is the sole book-running manager of the offering, which is expected to close Dec. 11. The underwriter has an option to buy up to an additional 2,045,454 common shares at 76 cents, complete with associated warrants.

The company will use the net proceeds for the continued clinical and pre-clinical development of its product candidates FCX-007 and FCX-013.

A portion of the proceeds will also go to the research of potential product candidates under its collaboration agreement with Intrexon Corp., as well as for other general corporate purposes.