Company sells five-year half-share warrants at $4.00 per share
By Marisa Wong
Madison, Wis., Oct. 22 – Transgenomic, Inc. said it raised about $2.38 million through a private placement of common stock with a syndicate of new and existing investors.
The company priced 730,776 shares at $3.25 per share, according to an 8-K filing with the Securities and Exchange Commission.
For each share of common stock purchased, investors also received a five-year warrant to purchase half a share of common stock at an exercise price of $4.00 per share.
The per-share price and the warrant strike price are a 10.2% premium and a 35.6% premium, respectively, to the Oct. 21 closing share price of $2.95.
Proceeds from the offering will be used for general corporate and working capital purposes.
Transgenomic is a biotechnology company based in Omaha.
| Issuer: | Transgenomic, Inc.
|
| Issue: | Common stock, warrants
|
| Amount: | $2,375,000
|
| Shares: | 730,776
|
| Price: | $3.25
|
| Warrants: | For up to 365,388 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $4.00
|
| Settlement date: | Oct. 22
|
| Stock symbol: | Nasdaq: TBIO
|
| Stock price: | $2.95 at close Oct. 21
|
| Market capitalization: | $23.83 million
|
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