Microlin to price IPO of 2,727,273 shares between $10.00 and $12.00

Deal funds clinical development, working capital, corporate purposes

By Devika Patel

Knoxville, Tenn., April 16 - Microlin Bio, Inc. plans to sell 2,727,273 common shares in its initial public offering with a 45-day greenshoe of 409,091 additional shares, according to a Form S-1/A and free writing prospectus filed Wednesday with the Securities and Exchange Commission. The deal was announced Jan. 10.

The company will sell the shares at a price expected to be between $10.00 and $12.00 per share on a best-efforts basis.

Brean Capital and Summer Street Research Partners are the joint bookrunners.

Proceeds will be used for clinical development, working capital and other general corporate purposes.

The diagnostic and therapeutic company is based in New York. It intends to list its common stock on the Nasdaq under the symbol "MCLB."

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