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Lynx Completes $4M Private Stock Placement

Jan 02, 2004

NEW YORK, Jan. 2 (GenomeWeb News) - Lynx Therapeutics today said it has completed a $4 million private financing of common stock and warrants for common stock.

The financing included the sale of 800,000 newly issued shares of common stock at $5.00 per share and the issuance of warrants to purchase 200,000 shares of common stock at an exercise price of $6.25 per share.

Kevin Corcoran, Lynx's president and CEO, said the company plans to use the financing to expand the commercial usage of its MPSS (Massively Parallel Signature Sequencing) technology.

Lynx completed a $3 million common stock placement in September.

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