BioAmber to sell over 46M units in direct offering at 40% discount, public offering canceled; shares down 7%

|About: BioAmber (BIOA)|By:, SA News Editor

BioAmber (BIOA) inks agreements with institutional investors for the aggregate sale of 46.67M Series A units (or equivalent Series B units) at a price of $0.15 per unit ($0.149/Series B unit to pay for the pre-funded warrant), 40% below its planned public offering price of $0.25 per unit.

The company has terminated its previously announced public offering.

Shares are off 7%.

Previously: BioAmber prices equity offering (Feb. 6)

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