Skip to main content
Premium Trial:

Request an Annual Quote

HTG Molecular Diagnostics to Raise $10M in Public Offering

NEW YORK – HTG Molecular Diagnostics said on Wednesday that it has priced a public offering that is expected to raise approximately $10 million in gross proceeds.

The company is offering 1,290,322 shares of its common stock, Series A-1 warrants to purchase up to 1,290,322 shares of its common stock, and Series A-2 warrants to purchase 1,290,322 shares of its common stock at a public offering price of $7.75 per share and accompanying warrants. The Series A-1 and A-2 warrants will each have an exercise price of $7.50 per share and will be exercisable immediately upon issuance. While the Series A-1 warrants will expire five years from the date of issuance, the Series A-2 warrants will expire 24 months from that date.

The offering is expected to close on or about Dec. 23, subject to customary closing conditions. H.C. Wainwright is acting as the exclusive placement agent for the offering.

Tucson, Arizona-based HTG Molecular plans to use the net proceeds from the offering for general corporate purposes including research and development, clinical trials, capital expenditures, and working capital.

Earlier this week, the company had announced a 1-for-12 reverse stock split of its outstanding common stock.

The Scan

Self-Reported Hearing Loss in Older Adults Begins Very Early in Life, Study Says

A JAMA Otolaryngology — Head & Neck Surgery study says polygenic risk scores associated with hearing loss in older adults is also associated with hearing decline in younger groups.

Genome-Wide Analysis Sheds Light on Genetics of ADHD

A genome-wide association study meta-analysis of attention-deficit hyperactivity disorder appearing in Nature Genetics links 76 genes to risk of having the disorder.

MicroRNA Cotargeting Linked to Lupus

A mouse-based study appearing in BMC Biology implicates two microRNAs with overlapping target sites in lupus.

Enzyme Involved in Lipid Metabolism Linked to Mutational Signatures

In Nature Genetics, a Wellcome Sanger Institute-led team found that APOBEC1 may contribute to the development of the SBS2 and SBS13 mutational signatures in the small intestine.