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MYCOGEN CORPORATION ANNOUNCES PUBLIC OFFERING OF COMMON STOCK

MYCOGEN CORPORATION ANNOUNCES PUBLIC OFFERING OF COMMON STOCK
    SAN DIEGO, Nov. 6 /PRNewswire/ -- Mycogen Corp., (NASDAQ: MYCO) today announced the public offering of 2,000,000 shares of Common Stock at $14.50 per share.  Of the 2,000,000 shares, 1,272,092 were sold by the company, and 727,908 shares were sold by selling stockholders.  The selling stockholders received their shares as part of the consideration paid in connection with Mycogen's acquisition of Soilserv.  The company will have approximately 14,019,000 shares outstanding after the offering, prior to any shares to cover over- allotments.  Morgan Stanley & Co. Inc. and Piper, Jaffray & Hopwood Inc. co-managed the offering.
    The company expects to use the net proceeds of the offering to support commercial product development, marketing, research and development programs and general corporate purposes.
    Mycogen Corp. develops, manufactures and markets biopesticides as alternatives to chemical pesticides to control a variety of insects, weeds and other pests.  Mycogen's biopesticide products are based on natural agents such as microorganisms and fatty acid compounds which are compatible with the environment.  The company develops its products through the application of genetic engineering technology and innovative formulations.
    Copies of the prospectus can be obtained from the office of Morgan Stanley & Co. Inc., 1251 Avenue of the Americas, New York, NY 10020, or Piper, Jaffray & Hopwood Inc., 222 South Ninth Street, Minneapolis, MN 55402.
    -0-                       11/6/91
    /CONTACT:  James R. Glynn, executive VP or Marie C. Burke, 619-453-8030, of Mycogen Corp./
    (MYCO) CO:  Mycogen Corp. ST:  California IN:  CHM SU: AL -- SD001 -- 1541 11/06/91 08:37 EST
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Publication:PR Newswire
Date:Nov 6, 1991
Words:265
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