TSI Corp. said it has filed a 2.3 million-share offering of common stock in which the company will sell 2 million shares and the remainder will be offered by selling shareholders.
The Worcester, Mass., company (NASDAQ:TSIN) is developing disease models, toxicology tests and animals for use as bioreactors for pharmacological substances. It also provides a variety of preclinical and clinical testing services.
TSI said the selling shareholders will not include executive officers or directors. The company would have 19.4 million shares outstanding after the offering is completed. Underwriters Cowen & Co. and Montgomery Securities have a 345,000-share overallotment option.
The stock closed at $11.13, up 13 cents, on Tuesday.
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