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Nanogen Files $50M Shelf Offering

NEW YORK (GenomeWeb News) – Nanogen said on Friday that it plans to sell up to $50 million in stock, debt securities, and warrants under a “shelf” registration process that enables the size, price, and terms to be determined at the time of sale.
 
In a document filed with the US Securities and Exchange Commission on May 25, Nanogen said that under the shelf process, “we may from time to time sell any combination of securities described in this prospectus in one or more offerings, up to a total dollar amount of $50,000,000.”
 
The company said it plans to use the proceeds for working capital, acquisitions and other general corporate purposes, including sales and marketing support, R&D, and, “if opportunities arise, to acquire businesses, products, technologies or licenses that are complementary to our business and make strategic investments in businesses complementary to our business.”

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