Skip to main content
Premium Trial:

Request an Annual Quote

Accelerate Dx Begins $45M Rights Offering

NEW YORK (GenomeWeb News) – Accelerate Diagnostics said after the close of the market on Monday that it has commenced a $45 million rights offering to fund the firm's product commercialization efforts.

The Tucson, Ariz.-based company is distributing at no charge to the holders of its common stock as of 5:00 PM EDT, March 14, 2014, .063921 non-transferable subscription rights for each share of stock owned.

Each whole subscription right, Accelerate said, will allow its holder to subscribe to purchase one share of common stock at a subscription price of $16.80 per share. The company intends to issue about 2.7 million shares of its stock in connection to the rights offering.

The subscription rights may be exercised until April 28.

Accelerate said it has a standby commitment from the Jack W. Schuler Living Trust and the Schuler Family Foundation and that the standby purchaser has agreed to purchase all shares of common stock not subscribed for by shareholders in connection to the rights offering.

Proceeds will be used for working capital, the company said. Specifically, it will fund Accelerate's business plan and the commercialization of its products. The firm makes the BACcel system for single-cell microbiology analysis, and it plans to further develop the system for diagnosing pathogens involved in hospital-acquired infections.

Accelerate ended 2013 with $30 million in cash and cash equivalents.

The Scan

Panel Recommends Pfizer-BioNTech Vaccine for Kids

CNN reports that the US Food and Drug Administration advisory panel has voted in favor of authorizing the Pfizer-BioNTech SARS-CoV-2 vaccine for children between 5 and 11 years old.

Sharing How to Make It

Merck had granted a royalty-free license for its COVID-19 treatment to the Medicines Patent Pool, according to the New York Times.

Bring it Back In

Bloomberg reports that a genetic analysis has tied a cluster of melioidosis cases in the US to a now-recalled aromatherapy spray.

Nucleic Acids Research Papers on SomaMutDB, VThunter, SCovid Databases

In Nucleic Acids Research this week: database of somatic mutations in normal tissue, viral receptor-related expression signatures, and more.