Skip to main content
Premium Trial:

Request an Annual Quote

HTG Molecular Diagnostics Prices $20M in Stock Offerings

This article has been updated to reflect the pricing, expected proceeds, and other terms of the offering.

NEW YORK – HTG Molecular Diagnostics on Friday priced a public offering of common stock and a private placement of warrants. 

The Tucson, Arizona-based diagnostics firm launched a public offering of 25,476,989 shares of common stock at $.65 per share. The company expects net proceeds of roughly $16.6 million from the common stock offering, but it also has granted the underwriter a 30-day option to purchase up to 3,821,548 additonal shares at the offering price.

Cantor Fitzgerald is the sole book-running manager for the offering. 

Concurrently with the public offering, HTG Molecular said that it has entered into a securities purchase agreement with certain institutional investors for the sale of 5,411,687 pre-funded warrants exercisable for an aggregate of 5,411,687 shares of its common stock at a purchase price of $.64 per pre-funded warrant. Each warrant will be immediately exercisable upon issuance and will have an exercise price of $0.01 per share. The gross proceeds from the private placement are expected to be approximately $3.5 million.

HTG said it expects both the public offering and private placement to close on Sept. 24.

The company had $11.8 million in cash and cash equivalents and $9.8 million in short-term investments as of June 30, according to its second quarter earnings announcement last month.

Shares of HTG Molecular were down 7 percent at $.75 in Friday morning trade on the Nasdaq.

The Scan

Cell Signaling Pathway Identified as Metastasis Suppressor

A new study in Nature homes in on the STING pathway as a suppressor of metastasis in a mouse model of lung cancer.

Using Bees to Gain Insights into Urban Microbiomes

As bees buzz around, they pick up debris that provides insight into the metagenome of their surroundings, researchers report in Environmental Microbiome.

Age, Genetic Risk Tied to Blood Lipid Changes in New Study

A study appearing in JAMA Network Open suggests strategies to address high lipid levels should focus on individuals with high genetic risk and at specific ages.

Study Examines Insights Gained by Adjunct Trio RNA Sequencing in Complex Pediatric Disease Cases

Researchers in AJHG explore the diagnostic utility of adding parent-child RNA-seq to genome sequencing in dozens of families with complex, undiagnosed genetic disease.