A team of Pillsbury lawyers is advising Roth Capital Partners, as sole manager, on a $10 million public offering of common stock by Charles & Colvard, Ltd. The offering priced earlier today at $1.60 per share and is expected to close on June 11, subject to customary closing conditions.

The offering consists of 6,250,000 shares sold by Charles & Colvard. The representative has also been granted a 30-day option to purchase up to 937,500 shares of common stock.  Net proceeds from the offering are expected be used by Charles & Colvard for marketing and general corporate and working capital purposes.

Charles & Colvard is an e-commerce-driven business that utilizes innovative technology and sustainable practices to develop products for the jewelry industry that include lab-created moissanite, a rare gemstone formed from silicon carbide. Charles & Colvard is based in the Research Triangle Park, North Carolina.

Read more about the transaction here.

The Pillsbury team advising the underwriters on this transaction was led by New York Corporate & Securities partner Jonathan Russo and included associates Lexi Calcado and Christopher Wing.