Bookrunners National Securities and Lake Street conducted the offering
By Devika Patel
Knoxville, Tenn., Feb. 17 – VolitionRX Ltd. said the underwriters for its initial public offering of stock opted to exercise the deal’s $1.39 million greenshoe in part, lifting total proceeds of the deal to $10.57 million. The deal priced for $9.28 million with the greenshoe on Feb. 6.
The company sold 2,818,383 common shares at $3.75 per share. The price per share is an 8.54% discount to the Feb. 5 closing share price of $4.10. Of the shares, 343,383 were part of the partially exercised greenshoe.
National Securities Corp. and Lake Street Capital Markets were the bookrunning managers.
Proceeds will be used for colorectal trials with Hvidovre Hospital in Denmark and an ongoing study at University Hospital in Bonn, Germany, as well as general working capital and other corporate purposes.
The Singapore-based life sciences company is focused on developing blood-based diagnostic tests.
| Issuer: | VolitionRX Ltd.
|
| Issue: | Common stock
|
| Amount: | $10,568,936, including $1,287,686 greenshoe
|
| Shares: | 2,818,383
|
| Price: | $3.75
|
| Warrants: | No
|
| Bookrunners: | National Securities Corp. and Lake Street Capital Markets
|
| Co-manager: | The Benchmark Co.
|
| Pricing date: | Feb. 6
|
| Settlement date: | Feb. 17
|
| Stock symbol: | NYSE: VNRX
|
| Stock price: | $4.10 at close Feb. 5
|
| Market capitalization: | $67.84 million
|
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