Echo Therapeutics (ECTE) Closes 3.2M Offering at 95c/Share

Echo Therapeutics, Inc. (Nasdaq: ECTE) announced the closing of a previously announced underwritten public offering of 3,200,000 shares of its common stock and the fully exercised over-allotment option to purchase 480,000 additional shares, offered at a price of $0.95 per share. The gross proceeds to Echo from this offering were approximately $3.5 million, before deducting the underwriting discount and other offering expenses payable by Echo.

Aegis Capital Corp. acted as the sole book-running manager for the offering.

Feltl and Company acted as co-manager for the offering.

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