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Great Basin Files for Public Offering of Stock, Warrants

NEW YORK (GenomeWeb) – Great Basin Scientific today filed a prospectus for an offering of units comprising its Series E convertible preferred stock and Series C warrants. 

Dawson James Securities is the sole book running manager on the proposed offering. Great Basin has not priced the offering or said how many units it plans to offer. Net proceeds will be used to fund the company's operations, including the completion of planned clinical trials and a filing with the US Food and Drug Administration for its Staph ID/R and Shiga toxin-producing Escherichia coli diagnostic tests, the company said in its document filed with the US Securities and Exchange Commission.

Additionally, proceeds will go toward R&D, sales and marketing, manufacturing of instruments, automation of the firm's manufacturing facility, and increasing its manufacturing capacity, Great Basin said.

Great Basin went public in late October raising about $6.4 million in net proceeds.