Wertheim Schroder and Co. Inc. and Dain Bosworth Inc., theunderwriters of ProCyte Corp.'s recent offering, have exercisedtheir option to purchase 375,000 shares of the company's stock.The purchase, intended to cover overallotments from theoffering, brings the Kirkland, Wash., company's gross proceedsto $38.1 million. The company will net approximately $35.8million from the offering.
ProCyte now has approximately 12.9 million sharesoutstanding. Its offering was declared effective on Feb. 2.
ProCyte's stock (NASDAQ:PRCY) dropped 38 cents a share onFriday, closing at $13.25. -- Karl Thiel
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