Calgene Inc. has filed for a secondary offering of 2 millionshares of common stock, the Davis, Calif., company said.
Calgene hopes to begin marketing in 1993 the first geneticallyengineered food, a tomato with enhanced shelf life. The tomatois being reviewed by the Food and Drug Administration. The agbiotech company is also developing canola oil products andherbicide-tolerant cotton.
Last April, Calgene raised $21 million through an offering of 3.5million shares at $6 per share. Calgene shares (NASDAQ:CGNE)closed at $12.75, down 63 cents, on Tuesday.
If the offering is completed, Calgene will have 17 million sharesoutstanding. U.S. underwriters PaineWebber Inc. and Piper,Jaffray & Hopwood Inc., and international underwritersPaineWebber International (U.K.) Ltd. and Piper, Jaffray have a300,000-share overallotment option. -- KB
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