RESEARCH TRIANGLE PARK, N.C., June 11, 2019 (GLOBE NEWSWIRE) -- Charles & Colvard, Ltd. (Nasdaq: CTHR) today announced the closing of its previously announced 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. Net proceeds disbursed to Charles & Colvard from the offering were approximately $9,175,000, after deducting the underwriting discount and fees and expenses. The Company intends to use the net proceeds from this offering for marketing and for general corporate and working capital purposes.

Roth Capital Partners was the sole manager for the offering.