RESEARCH TRIANGLE PARK, N.C., June 07, 2019 (GLOBE NEWSWIRE) -- Charles & Colvard, Ltd. (Nasdaq: CTHR) today announced the pricing of an underwritten public offering of 6,250,000 newly issued shares of its common stock at a price to the public of $1.60 per share. All of the shares in the offering are being sold by Charles & Colvard. The gross proceeds to Charles & Colvard from the offering, before deducting the underwriting discount and commissions and other offering expenses, are expected to be $10,000,000. The Company intends to use the net proceeds from this offering for marketing and for general corporate and working capital purposes.

The offering is expected to close on or about June 11, 2019, subject to customary closing conditions. 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, less underwriting discount and commissions.