NEW YORK (GenomeWeb) – Interpace Diagnostics said after the close of the market on Tuesday that it has entered into a securities purchase deal with certain institutional investors that is expected to raise $3.7 million in net proceeds.
The investors have agreed to purchase 375,000 shares of Interpace's common stock at $6.75 per share, and 255,000 prefunded warrants to purchase common stock at $6.74 per share. The offering is expected to close on or about Jan. 6.
Net proceeds from the deal will be used for working capital, repayment of debt, and general corporate purposes. Maxim Group served as the exclusive placement agent for the offering.
Interpace entered into a stock purchase deal last month to raise $1.7 million. The company also effected a 1-for-10 reverse stock split last week.