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stock offering

The company said after the close of the market Tuesday that it intends to offer 10 million shares of its common stock in an underwritten public offering.

Net proceeds from the offering of more than 4.9 million shares will be used for working capital and other general corporate purposes.  

The offering was a follow-on to a capital raise during the summer that brought in $6 million. The company's CEO said the additional financing was needed to execute on its business plan. 

The firm raised €4.7 million through a conditional placement, and €5.0 million through an unconditional direct subscription.

Earlier this month, Angle placed about 34.8 million new ordinary shares at 35 pence per share, grossing £12.2 million.

The firm, which said last week it expected to raise $15.9 million, has said it will use the net proceeds for working capital and general corporate purposes.

The company said it plans to use the net proceeds for working capital and general corporate purposes.

The offer of $402 per share was made in connection with Abbott's acquisition of Alere, which was completed on Tuesday.

The company said it plans to use the proceeds raised in the private placement primarily to fund its Hodgkin's lymphoma test clinical trial.

The company will use the net proceeds to finance its current operations and expand its US commercialization capacities for its lead product, Epi proColon.

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