Milestone Scientific expects $3M from public offering

Money Franklin

Milestone Scientific, a developer of drug delivery instruments, including systems for dental anesthesia, would gross about $3 million from an underwritten public offering of its common stock with the U.S. Securities and Exchange Commission.

The public offering of nearly 4.8 million shares of the company’s common stock at a price of 63¢ per share is expected to close on December 13, subject to customary closing conditions. Also, Milestone Scientific granted the underwriter a 45-day option to purchase up to an additional roughly 715,000 shares of common stock based on the same terms and conditions.

 

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