By Sheri Kasprzak
New York, Nov. 21 - Orchid Cellmark Inc. concluded a $14,025,600 private placement of its stock.
A group of new and existing institutional investors bought 4.87 million shares at $2.88 each, a 15.5% discount to the company's $3.41 closing stock price on Monday.
Proceeds will be used for working capital and general corporate purposes.
Cowen & Co. was the placement agent.
Orchid Cellmark, located in Princeton, N.J., provides DNA testing services for the human identity and agricultural sectors.
| Issuer: | Orchid Cellmark Inc.
|
| Issue: | Stock
|
| Amount: | $14,025,600
|
| Shares: | 4,874,630
|
| Price: | $2.88
|
| Warrants: | No
|
| Agent: | Cowen & Co.
|
| Settlement date: | Nov. 21
|
| Stock symbol: | Nasdaq: ORCH
|
| Stock price: | $3.41 at close Nov. 20
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
