This article corrects an earlier version that reported that Lynx had sold $300,000 worth of shares to Silicon Valley Bank. In fact, the company issued a warrant for the bank to buy the stock.
NEW YORK, Jan. 25 (GenomeWeb News) - Lynx Therapeutics stands to gain $300,000 from a stock-purchase warrant issued to Silicon Valley Bank, according to a Jan. 3 SEC filing.
The warrant gives the bank the option to buy 95,541 shares at $3.14 a piece between Dec. 28, 2004, and Dec. 27, 2007. It is part of the bank's agreement earlier this month to give Lynx a $3 million bridge loan.