DNAP FILES FOR $30 MILLION OFFERINGDNA Plant Technology Corp. of Cinnaminson, N.J., has filed for a$30 million public offering of 1.2 million shares of convertibleexchangeable preferred stock.
The stock is convertible into common stock (NASDAQ:DNAP) atthe option of the holder at any time and is redeemable by DNAPafter July 1994. DNAP stock closed unchanged at $5.25 onWednesday.
Underwriters Lehman Brothers and Vector SecuritiesInternational Inc. have an option to purchase an additional180,000 shares to cover overallotments. The offering issubject to approval at a special DNAP stockholders meetingscheduled for July.
LIFECORE FILES FOR SECONDARY OFFERING
Lifecore Biomedical Inc. of Minneapolis said Wednesday it hasfiled for a secondary offering of 2.1 million shares of commonstock, of which about 1.1 million shares will be sold by thecompany. The remaining 1 million shares will be sold by AlconSurgical Inc.
Alcon, Lifecore's major shareholder, filed in May to sell all orpart of its 19.7 percent stake in Lifecore. Alcon is a whollyowned subsidiary of Nestle SA of Switzerland, which does notallow its affiliates to hold a supplier's stock. Lifecore sellshyaluronic acid to Alcon.
Lifecore stock (NASDAQ:LCBM) closed at $9.88, down 25 cents,on Wednesday. Piper Jaffray & Hopwood Inc. are underwritingthe offering.
SANOFI DIVISION GETS CONTRACT FOR HIV TESTS
The Genetic Systems division of Sanofi Diagnostics Pasteursaid Wednesday that it has won two contracts valued at morethan $10 million for its HIV (AIDS virus) diagnostics. Thecontracts, which cover enzyme immunoassays for both HIV-1and HIV-2, are with Alpha Therapeutic Corp. of Los Angeles andCommunity BioResources, a Birmingham, Ala., subsidiary ofImmuno U.S. Inc. Both companies collect plasma for theproduction of plasma-derived products.
MONSANTO TRIES TO DELAY TOMATO RIPENING
Monsanto Co. has begun small-scale field trials of tomatoesengineered to contain a bacterial gene that delays ripening andextends shelf life by two weeks. The gene inhibits theproduction of ethylene, a ripening gas produced by plants.
The St. Louis, Mo., company (NYSE:MTC) hopes to developbetter-tasting tomatoes that can be harvested when ripe.
Calgene Inc. (NASDAQ:CGNE) of Davis, Calif., is targeting thesame goal, but has developed tomatoes that contain anantisense gene that slows rotting in fruit by reducing theexpression of polygalacturonase, an enzyme.
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