DNA Plant Technology Corp. announced Friday that it has fileda registration statement with the Securities and ExchangeCommission for a proposed offering of 4 million shares of itscommon stock plus 1 million shares held by of one of itsstockholders.
The managing underwriter for the offering is D. Blech & Co. Inc.When the offering is completed, DNAP (NASDAQ:DNAP) willhave 28.1 million shares outstanding.
DNAP's last offering was in October 1991 when it raised $32.2million from the sale of 1.4 million shares of preferred stock.As of the end of September, the company had $12.6 million incash. DNAP reported a net loss of $12.5 million for the firstnine months of 1993.
DNAP of Cinnaminson, N.J., will use the funds raised in theoffering to expand sales of FreshWorld, its premium fruit andvegetable business, and to conduct research and development.The company bought out DuPont's share of FreshWorld, whichhad been a 50-50 joint venture, in November.
DNAP stock was down 25 cents on Friday, closing at $5 pershare. -- Brenda Sandburg
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