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WaferGen Misses Deadline for Filing 10-Q

NEW YORK (GenomeWeb News) – WaferGen BioSystems disclosed in a regulatory filing yesterday a delay in filing its second-quarter earnings report as it needs more time to sort through the financial effects of a private placement done in the spring.

The Fremont, Calif.-based firm had until Aug. 15 to file its Form 10-Q with the US Securities and Exchange Commission but said that it needed "additional time to assess and refine valuation estimates of convertible preferred stock, convertible notes, and warrants," issued during the second quarter, and which affects its financial statements for the quarter.

In May, WaferGen entered into definitive agreements to raise $30.4 million in a private placement financing of equity and debt.

It said in its SEC document that it intends to file its Form 10-Q on or before Aug. 20.

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