Nasdaq-listed Derma Sciences takes 7.3 percent stake in Comvita in discounted placement

Wed, 04 Sep 2013

Sept 5 (BusinessDesk) – Derma Sciences, the Nasdaq-listed company with exclusive global rights to Comvita’s Medhoney wound care products, has taken a 7.3 percent stake in the Te Puke-based Manuka honey products firm via a discounted placement. Comvita raised about $9 million selling about 2.3 million new shares to Derma at $3.90 apiece, a 3.7 percent discount to the stock’s closing price on the NZX yesterday of $4.05. Derma chief executive Edward Quilty will join the Comvita board, the company said in a statement. The shares were unchanged wh...

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