Charles & Colvard Ltd. (NASDAQ: CTHR) has completed an underwritten public offering of 6,250,000 newly issued common stock shares, sold at the public offering price of $1.60 per share. According to the update, the offering resulted in gross proceeds of $10 million to Charles & Colvard, which it intends to use for marketing and general corporate and working capital purposes. In addition, Charles & Colvard has granted the underwriters a 30-day option to purchase up to an additional 937,500 shares of its common stock at the public offering price. ROTH Capital Partners acted as sole manager for the transaction.
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About Charles & Colvard
Charles & Colvard believes luxury can be beautiful and conscientious. As an e-commerce-driven business, the company uses innovative technology and sustainable practices to lead a revolution in the jewelry industry. As the original pioneer of lab-created moissanite, a rare gemstone formed from silicon carbide, Charles & Colvard delivers a brilliant product at a revolutionary value that meets the needs of today’s discerning customer. Jewelry consumers seek Charles & Colvard products because of their exceptional quality as well as their environmental and social responsibility. Charles & Colvard was founded in 1995 and is based in the Research Triangle Park, North Carolina. For more information, please visit it www.CharlesandColvard.com
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