Sonoma Pharmaceuticals Announces At-The-Market Offering of Common Stock Worth Up to $2.07 Million
Sonoma Pharmaceuticals Inc. has announced that it has entered into an At Market Issuance Sales Agreement with Ladenburg Thalmann & Co. Inc. Under the agreement, Sonoma Pharmaceuticals may offer and sell shares of its common stock, with an aggregate offering price of up to $2,070,463, through Ladenburg acting as agent. Sales of shares will be made pursuant to an effective registration statement on Form S-3 and a related prospectus supplement. Ladenburg will receive a commission of 3% of the gross proceeds from each sale and will be reimbursed for certain expenses up to $40,000. The company is not obligated to sell any shares under the agreement, and the timing, price, and amount of any sales will be determined at Sonoma's discretion.
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