NEW YORK (GenomeWeb News) – Transgenomic today said that it has signed definitive agreements with a syndicate of institutional and other accredited investors to raise gross proceeds of $8.3 million in a private placement of its shares.

Under the purchase agreement, Transgenomic will issue an aggregate of 16.6 million shares of its common stock at $.50 per share, as well as five-year warrants to purchase up to an aggregate of 8.3 million shares of its common stock at an exercise price of $.75 per share.

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