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Rosetta to Sell $1.4M in Stock

Apr 12, 2012

NEW YORK (GenomeWeb News) – Rosetta Genomics today said that it has signed definitive agreements to sell 8.1 million shares of its stock to certain investors at $0.17 apiece, which would raise $1.4 million for the beleaguered microRNA diagnostics firm.

Rosetta said that the transactions are expected to close on April 17. The proceeds of the offering will be used to fund operations and other general corporate purposes, including the repayment of debt.

Last week, the Israel-based company disclosed that it had enough funds to support its operations only into late May 2012, as it faces a $750,000 payment owed on May 22 to one-time distribution partner Prometheus Laboratories.

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Gene Editing, Gene Silencing, & CRISPR
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