NEW YORK (GenomeWeb) – Shares of Belgian diagnostics firm VolitionRx began trading on the New York Stock Exchange MKT today after an offering of 2,475,000 shares at $3.75 per share.
The company's stock is now listed under ticker symbol "VNRX." It previously was listed on the OTCQB.
The firm anticipates $8.5 million in net proceeds from the offering, which will be used to fund prospective colorectal cancer test trials with Hvidovre Hospital in Denmark and an ongoing study at University Hospital in Bonn, Germany. The funds will also go toward general working capital and other corporate purposes, VolitionRx said.
National Securities, a wholly owned subsidiary of National Holdings, and Lake Street Capital Markets are the joint book-running agents on the offering. The Benchmark Company is the co-manager. VolitionRx has granted the underwriters a 30-day overallotment option to purchase an additional 371,250 additional shares at $3.75 per share.
Volition expects to close the offering on Feb. 11.
The company said in the fall that it planned to move to the NYSE and filed a prospectus for the offering. It is developing diagnostic tests based on nucleosomics technology, which identifies and measures nucleosomes in blood and other body fluids.
In afternoon trading on Friday, its shares were up 5 percent at $4.30.