Microlin to price its IPO of 5.5 million units between $4.50 and $5.50

Deal funds clinical development, working capital, corporate purposes

By Devika Patel

Knoxville, Tenn., July 3 – Microlin Bio, Inc. plans to sell 5.5 million units in its initial public offering with a 45-day greenshoe of 825,000 additional units, according to a Form S-1/A and free writing prospectus filed Thursday with the Securities and Exchange Commission. The deal was announced as a stock offering on Jan. 10.

The company will sell units of one common share and one warrant at a price expected to fall between $4.50 and $5.50 per unit per unit. The warrants are expected to be exercisable at $6.00 for five years.

Brean Capital and Summer Street Research Partners are the joint bookrunners, and Meyers Associates is the co-manager.

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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