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Corium prices $20M common stock offering

Corium International Inc. priced its underwritten public offering of 6,666,667 common shares at a price of $3 per share.

Gross proceeds from the offering are expected to be about $20 million. The company intends to use the net proceeds for product development, general corporate purposes, working capital, reducing debt, acquisitions and capital expenditures.

Corium also granted underwriters an option to buy up to an additional 1 million shares.

The offering is expected to close Feb. 7.

Cantor Fitzgerald & Co. is acting as the sole book-running manager for the offering.