Deal prices at 20.63% discount to stock’s closing price on Thursday
By Susanna Moon
Chicago, April 29 – Biocept, Inc. said it priced its public offering of common shares and warrants for $5 million. The deal was announced April 28.
Biocept will issue 5 million shares of common stock at $1.00 each, which is a 20.63% discount to the company’s closing price on April 28.
Investors will also receive warrants for about 3.5 million shares exercisable at $1.30 per share for five years, according to a company announcement.
The strike price is 3.17% premium to the closing price.
H.C. Wainwright & Co. is the agent.
Proceeds will be used for working capital and general corporate purposes.
Biocept is a molecular diagnostics company based in San Diego.
| Issuer: | Biocept, Inc.
|
| Issue: | Common stock, warrants
|
| Amount: | $5 million
|
| Shares: | 5 million
|
| Price: | $1.00
|
| Warrants: | For about 3.5 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.30
|
| Agent: | H.C. Wainwright & Co
|
| Pricing date: | April 29
|
| Settlement date: | May 4
|
| Stock symbol: | Nasdaq: BIOC
|
| Stock price: | $1.26 at close April 28
|
| Market capitalization: | $18.89 million
|
© 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.
