NEW YORK (GenomeWeb News) – CombiMatrix has signed an agreement with an institutional investor for a registered direct offering that is expected to provide the firm with $2 million in gross proceeds, or $1.76 million in net proceeds.

The firm said that it has entered into a definitive purchase agreement with the unnamed investor to purchase 130,000 shares of common stock for $3.05 per share and approximately 1,610 units consisting of Series B convertible preferred stock and warrants. Shares of CombiMatrix closed Tuesday at $3.20 on the Nasdaq.

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