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As Expected, Solexa Closes $40M Private Stock Placement; Second of Two Tranches Worth $61M

NEW YORK, Jan. 20 (GenomeWeb News) - Solexa has closed a private stock placement valued at approximately $40 million, the company said today.

 

The transaction is the second and final closing of a $65-million private-equity financing round   with a group of institutional investors. In total, Solexa received approximately $61 million after deducting offering expenses.

 

Under terms of the second closing, Solexa sold about 6.1 million shares of common stock at $6.50 per share, and issued warrants to buy an additional 2.2 million shares at $7.50 per share.

 

The first closing, completed on Nov. 23, 2005, raised approximately $25 million from the sale of about 3.9 million shares of common stock and the issuance of about 1.3 million warrants.

The Scan

Guidelines for Ancient DNA Work

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And Cleared

A UK regulator has cleared former UK Prime Minister David Cameron in concerns he should have registered as a consultant-lobbyist for his work with Illumina, according to the Financial Times.

Suit Over Allegations

The Boston Globe reports that David Sabatini, who was placed on leave from MIT after allegations of sexual harassment, is suing his accuser, the Whitehead Institute, and the institute's director.

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