NEW YORK (GenomeWeb) – Signal Genetics announced today the closing of the public offering of its common shares, raising $9 million in gross proceeds.
The Carlsbad, Calif.-based molecular diagnostics firm offered 3,214,285 shares of its stock at $2.80 per share and has granted the offering's underwriters a 45-day overallotment option to purchase up to 482,142 shares of its common stock. Aegis Capital and Chardan Capital Markets are the joint book-running managers on the offering.
Signal said last week when it priced the offering that proceeds will go toward the clinical development of new products and services, expansion of the company's commercialization efforts, working capital, and general corporate purposes.
Signal's shares were up by almost 6 percent to $2.72 on the Nasdaq in afternoon trading on Monday.