By a GenomeWeb staff reporter
NEW YORK (GenomeWeb News) – Pressure BioSciences today said that it has entered into definitive agreements with certain investors for a registered direct offering of 843 units priced at $1,000 per unit.
The company will use funds from the offering to market its products, invest in a Singapore plasma project, and for general corporate purposes.
The company will receive no proceeds from the offering but could receive $34.8 million if warrants included in the offering are exercised in full.
Some of the proceeds will be used to fund development of the firm's NexGen molecular diagnostics system.
The offering is expected to bring in net proceeds of at least $877.4 million.
Net proceeds will be used to pay a part of its acquisition of Beckman Coulter, which is expected to close by the end of the month.
The firm expects to use proceeds to fund R&D efforts, including development of its next-generation molecular diagnostics system.
The company raised about $73.8 million in net proceeds, which will go toward expansion of its facilities and further development of its sequencing technology.
The company anticipates netting $64.1 million in proceeds from the offering.
The firm sold 15,686,000 shares of common stock at a price of $2.20 per share.
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