MELA Sciences (MELA) swoons 7.7% to $1.56 after the medical-devices company prices a...

|By:, SA News Editor

MELA Sciences (MELA) swoons 7.7% to $1.56 after the medical-devices company prices a stock-offering of 6.1M shares at $1.30 each, well below the firm's close yesterday of $1.69. MELA plans to use the net proceeds of $7.3M for the launch of its MelaFind skin-cancer product in the U.S. and EU, and for R&D. MELA also says it's signed a term sheet with a VC lender for a 3.5 year loan of up to $10M at interest of 10.45%/year. (PR)