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Alliqua BioMedical prices $3.8M stock offering

Alliqua BioMedical Inc. priced its previously announced underwritten public offering of 9,375,000 common shares at 40 cents per share to raise approximately $3.8 million in gross proceeds.

The company plans to use the net proceeds to meet its debt obligations to Perceptive Credit Opportunities Fund LP. Funds raised will also be used for working capital and general corporate purposes.

Rodman & Renshaw, a unit of H.C. Wainwright and Co., is acting as the sole underwriter for the offering, which is expected to close April 3.