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SeqLL to Raise $1.8M in Direct Stock Offering

NEW YORK – SeqLL said on Monday that it has priced a $1.8 million registered direct stock offering.

The Billerica, Massachusetts-based sequencing instrument and services firm said it has entered into a securities purchase agreement with unnamed institutional investors for a registered direct offering that is expected to raise $1.8 million in gross proceeds.

The company is offering 2 million shares of its common stock at a purchase price of $.90 per share in the offering. It did not specify the intended use of the funding.

Maxim Group is acting as the sole placement agent in connection with the offering, which is expected to close on or about Feb. 15, subject to customary closing conditions.

In midday trading on the Nasdaq, SeqLL's stock was down 20 percent, at $1.06 per share, after rising sharply last week when the company announced a collaboration with the FBI on forensics technology.