Ocera Therapeutics Prices Public Offering Of 4.20 Mln Shares At $6 Per Share

(RTTNews) - Ocera Therapeutics (OCRX) announced that it has priced an underwritten public offering of 4.20 million shares of its common stock at an offering price of $6.00 per share.

The offering will raise gross proceeds to Ocera of $25.2 million before deducting the underwriting discount and other offering expenses.

Ocera has also granted the underwriters a 30-day option to purchase up to an additional 630,000 shares of common stock, which would result in additional gross proceeds of $3.78 million, if exercised in full.

Ocera noted that it intends to use the proceeds to progress the clinical development programs of OCR-002 and for working capital and other general corporate purposes. The offering is expected to close on July 15, 2014, subject to the satisfaction of customary closing conditions.