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Transgenomic Closes Public Offering of Stock, Warrants

NEW YORK (GenomeWeb) – Transgenomic today announced the closing of its public offering of stock and corresponding warrants that raised $6.2 million in net proceeds. 

The company offered 3,573,899 shares of its common stock and corresponding warrants to purchase 714,781 shares. The stocks and warrants were sold in combination with one warrant to purchase .20 of a share of stock for each share of stock sold. The combined price for each share and corresponding warrant was $1.95.  

The warrants are exercisable immediately on the date of issuance at an exercise price of $2.24 per share. They will expire five years from the date of issuance.  

Craig-Hallum Capital Group acted as the sole managing underwriter on the offering. Proceeds will be used for working capital and general corporate purposes, Transgenomic said. 

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