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Cancer Genetics Testing Firm NeoGenomics Eyes $7.8M from Public Offering of Stock

NEW YORK (GenomeWeb News) – NeoGenomics today announced the public offering of 3.15 million shares of its common stock at $3.00 per share.

The Ft. Myers, Fla.-based firm which specializes in cancer genetic testing, is selling 2.85 million shares, while a shareholder, the Mary S. Dent Gifting Trust, will sell 300,000 shares.

NeoGenomics expects to raise $7.8 million in net proceeds from the offering. It will not receive any proceeds from Mary S. Dent's sale of its shares.

The company will use the raise to pay down certain indebtedness and general corporate and operating purposes, it said. Craig-Hallum Capital is the book-running manager on the offering. Ladenburg Thalmann & Co., and Emerging Growth Equities are co-managers.

NeoGenomics has granted the underwriters a 30-day option to purchase up to an additional 472,500 shares cover any over-allotments.

The firm recently moved to the Nasdaq from the OTC Bulletin Board.

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