ChromaDex® Announces the Closing of Common Stock Sale with Gross Proceeds of $11.175 Million
IRVINE, Calif., Feb. 10, 2012 /PRNewswire/ -- ChromaDex Corporation (OTCBB: CDXC), an innovative natural products company that provides proprietary, science-based solutions and ingredients to the dietary supplement, food & beverage, cosmetic and pharmaceutical industries, announced today that it closed the previously announced registered direct offering of common shares at a price per share of $0.75. The company sold 9,966,666 shares of common stock for gross proceeds of approximately $7.475 million. The shares were offered by ChromaDex Corporation pursuant to a shelf registration statement on Form S-3 previously declared effective by the Securities and Exchange Commission.
The company also closed the previously announced sale to investors including several members of ChromaDex's management of 4,933,329 restricted shares of common stock at a price per share of $0.75 per share for gross proceeds of approximately $3.7 million.
ChromaDex Corporation plans to use the net proceeds from the offerings primarily to fund its recently launched BluScience™ retail consumer line, and for general working capital purposes.
Aegis Capital Corp. acted as the sole placement agent for the offerings.
This announcement shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Any offer will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. Copies of the prospectus supplement together with the accompanying prospectus can be obtained at the Securities and Exchange Commission's website at http://www.sec.gov or from Aegis Capital Corp., Prospectus Department, 810 Seventh Avenue, 11th Floor, New York, NY, 10019, telephone: 212-813-1010 or email: email@example.com.
ChromaDex, Inc. is an innovative natural products company that provides proprietary, science-based solutions and ingredients to the dietary supplement, food & beverage, cosmetic and pharmaceutical industries. The company has an expanding pipeline of new ingredients, including its pTeroPure® pterostilbene for which it has worldwide, exclusive patent pending rights. The company recently launched its BluScience™ line of dietary supplements, now available at Drugstore.com. Capitalizing on the diverse potential applications of the product, ChromaDex is also developing pTeroPure for the skincare and pharmaceutical markets, among others. pTeroPure is currently being studied in a human clinical trial at the University of Mississippi.
For more information about pTeroPure visit www.pteropure.com or call 949-600-9694.
Any statements that are not historical facts contained in this release are forward-looking statements. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements involve risks and uncertainties, including but not limited to those relating to product and customer demand, market acceptance of our products, the effect of economic conditions both nationally and internationally, ability to protect our intellectual property rights, impact of any litigation or infringement actions brought against us, competition from other providers and products, risks in product development, our ability to raise capital to fund continuing operations, the ability to complete transactions, and other factors discussed from time to time in the Company's Securities and Exchange Commission filings. The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made except as required by law.
Liviakis Financial Communications, Inc.
John M. Liviakis, President
Institutions and Analysts Contact:
The Del Mar Consulting Group, Inc.
Robert B. Prag, President
Jeffrey Himmel, CEO
*These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure or prevent any disease.
SOURCE ChromaDex Corporation
More by this Source
ChromaDex® Updates Research Activity Agreements For Its NIAGEN™ Nicotinamide Riboside
Nov 22, 2013, 08:30 ET
ChromaDex® Reports Results for the Third Quarter 2013
Nov 21, 2013, 17:50 ET
ChromaDex® Reports Results for the Second Quarter 2013
Aug 13, 2013, 08:20 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.