BioAmber raises $7 million in share offering

In Quebec, BioAmber has priced an underwritten offering of 1,748,750 shares of its common stock at a price of $4.00 per share. The gross proceeds to the Company will be approximately $7.0 million, and net proceeds, after underwriting discounts and commissions and other estimated fees and expenses payable by BioAmber, will be approximately $5.6 million. BioAmber intends to use the net proceeds of the underwritten offering and the registered offering of warrants for working capital and other general corporate purposes. The underwritten offering is expected to close on or about December 29, 2016, subject to customary closing conditions and the closing of the registered direct offering.

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