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NEW YORK – Biocept said Monday that it has entered into a securities purchase agreement with several institutional investors for the issuance and sale of 23 million shares of its common stock at a price of $0.40 per share, for aggregate gross proceeds of approximately $9.2 million in a registered direct offering priced at-the-market.

Maxim group will act as the sole placement agent, and the offering is expected to close on or about March 4.

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