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NEW YORK (GenomeWeb) – Transgenomic today announced that it has signed an agreement to sell roughly $3 million in restricted stock and warrants through a private placement.

According to the company, the placement includes 1.5 million shares of restricted common stock, as well as fully paid prefunded warrants to purchase up to approximately 700,000 shares of its common stock, in each case at a purchase price of $1.42 per share.

During early morning trading on the Nasdaq, shares of Transgenomic were trading down 7 percent at $1.55.

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