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Solexa Secures Remaining $24M of $32.5M Private Equity Financing from April

NEW YORK, July 14 (GenomeWeb News) - Solexa has secured the remaining $24 million in the second closing of its $32.5 million private equity financing, the company said on Tuesday.


The first closing of the funding round, completed in April, generated proceeds of $8.5 million from the sale of 2.1 million shares of common stock and 1.1 million warrants.


Under the terms of the second closing, Solexa raised $24 million by selling 6 million shares of common stock at $4 per share and issuing warrants to purchase up to 3 million shares of common stock at an exercise price of $5 per share.


The financing round was led by ValueAct Capital of San Francisco. Solexa's previous investors, Abingworth Management, Amadeus Capital Partners, Oxford Bioscience Partners, and SV Life Sciences invested $10.8 million in total at the second closing.

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