Mycogen Corp. on Thursday said it has filed for an offering of 2million shares of common stock.
About 1.3 million shares would be sold by the company andabout 728,000 would be offered by stockholders who receivedtheir shares as part of Mycogen's acquisition of SoilServ, acrop-protection service, in August.
If the offering is completed, Mycogen will have 14 millionshares outstanding. Underwriters Morgan Stanley & Co. Inc. andPiper, Jaffray & Hopwood Inc. have an option to buy anadditional 300,000 shares for overallotments.
The San Diego developer of microbial biopesticides also saidnet income for the third quarter ended Sept. 30 was $415,000,or 3 cents per share, on revenues of $10 million. For thecomparable 1990 period, the San Diego-based company had anet loss of $140,000, or 1 cent per share, on revenues of $4.1million.
Mycogen stock (NASDAQ:MYCO) closed down 50 cents at $15.25on Thursday.
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