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Rosetta Raises $8M in Private Placement

NEW YORK (GenomeWeb) – Molecular diagnostics firm Rosetta Genomics announced today that it has raised $8 million in a private placement of stock and warrants.

According to the company, it has signed definite agreements with certain investors to sell 3,333,333 units at $2.40 apiece. Each unit consists of one ordinary share; a Series A warrant to purchase a half of an ordinary share at an exercise price of $2.75 per ordinary share five years from the sale's closing; and a partially pre-funded Series B warrant with an exercise price of New Israeli Shekel .6, which has been prepaid, plus $.0001.

Rosetta said that the Series B warrants are intended to reset the price of the units and will be exercisable for an aggregate number of ordinary shares based on certain conditions.

Aegis Capital acted as the exclusive placement agent in connection with the private placement.

During early morning trading on the Nasdaq Wednesday, shares of Rosetta were down $.24 at $2.31.

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