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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.

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