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Biocept Prices Public Offering of Stock and Warrants, Expects $10M in Proceeds

NEW YORK (GenomeWeb) – Biocept late on Monday priced its public offering of 8 million shares of its common stock and warrants to purchase up to 8 million shares of its stock. 

The combined offering price is $1.25 per share, the company said, adding the warrants have a per share exercise price of $1.56. The warrants are exercisable immediately and will expire five years from the date of issuance. Biocept anticipates gross proceeds of approximately $10 million from the offering. 

The company has granted the offering's underwriters a 45-day overallotment option to purchase up to 1.2 million additional shares of common stock and/or 1.2 million additional warrants. Aegis Capital and Feltl are the joint book-running managers for the offering, which is expected to close on Feb. 13. 

In an amended prospectus last week, the San Diego-based firm said that it planned to offer up to $11.5 million in common stock and up to $11.5 million in common stock issuable upon the exercise of warrants.