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Lumera Lines up $25M in Equity Financing over Three Years

NEW YORK (GenomeWeb News) - Lumera said today it will have access to as much as $25 million in financing over the next three years through an equity financing agreement with investment bank Kingsbridge Capital Limited.

Lumera, which will choose the timing and amount of any of the committed equity financing facility purchases, plans to use the funds to support corporate and research and development activities.

The funds will be available to Lumera through tranches under which Kingsbridge will buy Lumera’s common stock at discounts between six percent and 12 percent, depending on the average market price of the stock during an eight-day pricing period.

Lumera also issued a warrant to Kingsbridge to buy up to 180,000 shares of common stock at $3.01 per share, which is a 125 percent premium over Lumera’s closing price over the five days before the agreement was signed.

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