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Lynx Technologies Takes Second $4M Private Placement

NEW YORK, March 10 (GenomeWeb News) - Lynx Technologies today announced a $4M private placement of its stock, giving the company a total of $8 million in new capital raised its second such transaction this year.

 

The Hayward, Calif.-based company said it sold 788,235 newly issued shares of its stock at $5.10 per share, and issued warrants for the purchase of 181,295 shares at an exercise price of $6.25 per share to undisclosed institutional investors.

 

The financing will be used to broaden use of Lynx's massively parallel signature sequencing technology, and to pursue technical improvements in the platform, the company said in a statement.

 

In January, the company completed another $4 million placement, selling 800,000 new shares of common stock at $5.00 per share and issuing warrants for 200,000 shares of common stock at an exercise price of $6.25 per share.

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