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Interpace Files to Raise $10.5M

NEW YORK (GenomeWeb) – Interpace Diagnostics today said that it plans to raise about $10.5 million in a public offering of its stock.

In a document filed with the US Securities and Exchange Commission, the firm said that it will offer up to almost 6.3 million shares of its common stock as part of the offering. It also is offering to purchasers, who would own more than 4.99 percent of Interpace's outstanding common stock after the offering, the opportunity to purchase prefunded warrants in lieu of common shares that would result in the purchaser owning more than 4.99 percent of the firm's outstanding shares.

Interpace has not priced the shares yet, but said that net proceeds from the offering are estimated at $10.5 million, based upon an assumed public offering price of $1.91 per share.

The proceeds will be used for working capital, trade, payables, general corporate purposes, and other obligations.

Maxim Group is the sales book running manager, and WestPark Capital is the co-manager on the offering. Interpace has granted the underwriters an overallotment option to purchase up to an additional 942,408 shares.

Interpace said earlier this week that it signed a laboratory services deal to provide it molecular thyroid tests to researchers at Einstein Medical Center of Philadelphia. 

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