PORTLAND, ME--(Marketwired - January 28, 2016) - ImmuCell Corporation (“ImmuCell” or the “Company”) (ICCC), an animal health company that is developing, manufacturing and selling products that improve health and productivity in the dairy and beef industries, today announced a proposed registered underwritten public offering of its common stock, subject to market and other conditions.
Craig-Hallum Capital Group LLC is acting as sole underwriter for the offering.
ImmuCell intends to use the net proceeds from the offering, if completed, to construct and equip a facility that will produce Nisin, the active ingredient in the Company’s Mast Out® product for treatment of subclinical mastitis in lactating dairy cows.
The shares are being offered pursuant to an effective shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission (“SEC”). The securities may be offered only by means of a prospectus. The prospectus and a preliminary prospectus supplement related to the offering have been filed with the SEC and are available on the SEC’s website located at http://www.sec.gov and may also be obtained from Craig-Hallum Capital Group, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, telephone 612-334-6300, email: prospectus@chlm.com.
The Company also announced that, based on currently available information, estimated revenues for the full year ended December 31, 2015 are expected to be approximately $10.2 million and earnings per share for the full year ended December 31, 2015 are expected to be between $0.34 and $0.41. The Company’s estimated cash, cash equivalents, short-term and long-term investments balance was approximately $6.5 million as of December 31, 2015. These expected results are preliminary, are subject to the completion of an audit of the Company’s December 31, 2015 financial statements, and are not necessarily indicative of the results to be expected for future periods.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor may there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About ImmuCell
ImmuCell Corporation’s (NASDAQ: ICCC) purpose is to create scientifically-proven and practical products that improve animal health and productivity in the dairy and beef industries. ImmuCell has developed products that provide significant, immediate immunity to newborn dairy and beef livestock. The Company has also developed products that address mastitis, the most significant cause of economic loss to the dairy industry. Press releases and other information about the Company are available at: http://www.immucell.com.
