Sonoma Pharmaceuticals Launches $4M Stock and Warrant Offering with 15% Over-Allotment Option
Sonoma Pharmaceuticals priced a $4.0 million firm-commitment offering of 2,962,963 common shares and 2,962,963 warrants at $1.35 apiece. The transaction includes a 45-day overallotment option for up to 15% additional securities and is set to close April 27 for general corporate purposes.
1. Offering Structure
Sonoma Pharmaceuticals executed a firm-commitment public offering of 2,962,963 common shares and an equal number of warrants at $1.35 per unit, generating gross proceeds of approximately $4.0 million before fees.
2. Over-Allotment Option
The company granted its bookrunner a 45-day option to purchase up to 15% additional shares or warrants to cover potential over-allotments and provide underwriting flexibility.
3. Closing and Use of Proceeds
The offering is scheduled to close on April 27, 2026, subject to customary closing conditions, with net proceeds earmarked for general corporate purposes, including working capital support.