MONTGOMERYVILLE, Pa.--(BUSINESS WIRE)--
PhotoMedex, Inc. (Nasdaq:PHMD) (the Company) announced today that it
has priced an underwritten public offering of 500,000 shares of its
common stock at a price to the public of $6.00 per share for gross
proceeds of $3,000,000. The offering is expected to settle and close on
May 7, 2010, subject to customary closing conditions. The Company has
granted the underwriters a 45-day option to purchase up to an additional
75,000 shares of common stock to cover over-allotments, if any.
The proceeds of the offering will be used for general working capital
and other corporate purposes.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann
Financial Services Inc. (AMEX:LTS), acted as lead manager and Newbridge
Securities Corporation acted as co-manager for the offering. The shares
of common stock are being sold pursuant to a registration statement that
has been declared effective by the Securities and Exchange Commission as
of May 3, 2010. The shares are only offered by means of the prospectus
related to this offering. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy nor shall there be
any sale of the common stock in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction. Copies
of the final prospectus relating to the offering may be obtained for
free by visiting the U.S. Securities and Exchange Commission website at www.sec.gov.
Alternatively a copy of the prospectus related to this offering may be
obtained from Ladenburg Thalmann & Co. Inc. by emailing RMatty@Ladenburg.com.
About PhotoMedex
PhotoMedex is a Global Skin Health Solutions company that provides
integrated disease management and aesthetic solutions through
complementary laser and light-based devices, pharmaceuticals and
cosmeceuticals. We are a leader in the development, manufacturing and
global marketing of dermatology products and techniques focused on
advancing cost-effective technologies that provide patients with better
outcomes and a higher quality of life. The diseases and conditions we
address include psoriasis, vitiligo, acne, actinic keratosis and sun
damage. Medical devices include the XTRAC® Excimer Laser for the
treatment of psoriasis and vitiligo and the Omnilux non-laser Light
Emitting Diodes (LED) for the treatment of clinical and aesthetic
dermatological conditions including acne, photodamage, skin rejuvenation
and wound healing. PhotoMedex also develops and markets products based
on DNA Repair and its patented, clinically proven Copper Peptide
technology for skin health, hair care and wound care.
For more information, visit www.photomedex.com.
This press release includes forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These statements are based on
managements current expectations and beliefs and are subject to a
number of factors and uncertainties that could cause actual results to
differ materially from those described in the forward-looking statements.
Company Contact:
PhotoMedex, Inc
Dennis McGrath, CEO
215-619-3287
info@photomedex.com
or
Investor
Contacts:
Lippert/Heilshorn &
Associates, Inc.
Kim Sutton Golodetz
212-838-3777
Kgolodetz@lhai.com
or
Bruce
Voss
310-691-7100
Bvoss@lhai.com
Source: PhotoMedex, Inc.
