Sonoma Pharmaceuticals got near $4.6 million from an offering of 1,428,570 shares for price of $3.50 per share, after deducting the placement agent commissions and other estimated offering expenses payable by Sonoma.
Sonoma said that the lead institutional investor in this offering is Montreux Equity Partners, a private investment firm focused on making growth capital investments in the healthcare sector. The offering was completed with investments from a combination of institutional funds and retail investors, it added.
Bob Miller, the CFO of Sonoma said that Montreux Equity Partners is a firm that has significant experience and a successful track record investing in dermatology and specialty pharmaceutical companies. That gives enough reason to look forward to their partnership and their experience in growing Sonoma’s dermatology business, Miller said, noting that they have done that with many of their other portfolio companies. “In addition, we are excited about the participation from some of our existing investors and we welcome a number of new investors to build a broader diversified shareholder base,” Miller said.
California-based Sonoma Pharmaceuticals, focused on dermatological conditions and advanced tissue care, sells its products throughout the United States and internationally, have improved outcomes for more than five million patients globally.