NEW YORK (GenomeWeb News) — Third Wave Japan, a subsidiary of Third Wave Technologies, has raised roughly $5.3 million in a stock placement, the company stated in a filing with the Securities and Exchange Commission yesterday.
Third Wave Japan sold 7,112 shares of common stock at ¥90,000 ($743) per share to Mitsubishi, Shimadzu, CSK Institute for Sustainability, Daiichi Pure Chemicals, BML, and Toppan Printing.
Third Wave Japan said the investors purchased roughly 12.9 percent of its outstanding shares and around 12.4 percent of the company’s outstanding equity.
Including previous investments, Mitsubishi and CSK now own around 27 percent of Third Wave Japan, or 31 percent after exercise of warrants.
The company said the convertible Series A preferred stock has an 8-percent, non-cumulative dividend.