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Aspira Eyes $11M in Private Equity Financing

NEW YORK – Aspira Women's Health announced on Wednesday that it was planning a private equity financing of around $11 million.

The Austin, Texas-based firm, formerly known as Vermillion, said that investors, including affiliates of the former President and COO of Abbott Laboratories, Jack Schuler, the company's largest stockholder, had agreed to purchase approximately $11 million of unregistered shares of Aspira common stock in a private placement at a price of $3.50 per share.

Aspira said it plans to use the funding for general corporate purposes including additional hires and expanding its product portfolio.

The closing of the placement is slated for July 6, 2020.