Synbiotics Files Plans to Sell 1.25 Million Shares

Synbiotics Corp. announced that it has filed a registration statement with the Securities and Exchange Commission to sell 1.25 million of its shares to the public. All of the shares will be sold by the company. Based on the $11-per-share selling price of Synbiotics’ stock in over-the-counter trading Wednesday, the offering could raise as much as $2.24 million, the company said.

Proceeds from the offering, which will be underwritten by Prudential Bache Capital Funding and San Diego Securities Inc., will be used to fund research, product development and marketing and for working capital, the company said in a statement.