Procyte Corp. (NASDAQ:PRCY) completed a secondary offeringTuesdayHits third round of public financingHwith the sale of 2million shares of common stock at $9 per share. The Kirkland,Wash., company has 9.83 million fully diluted sharesoutstanding.
Procyte is developing a new class of therapeutic products basedon its proprietary peptide-copper compounds for tissue repairand healing.
The offering was co-managed by William Blair & Company andDain Bosworth Inc. The underwriters have not yet announcedwhether they will be excercising their overallotment option of300,000 shares. Procyte stock closed Tuesday at $9.50 a share,up 25 cents a share.
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