NEW YORK (GenomeWeb News) – Rosetta Genomics said in a regulatory filing on Thursday that it anticipates raising about $27.7 million in a public offering.
In a document filed with the US Securities and Exchange Commission, the company did not price the offering, which it announced last month, but said it is offering 3 million shares. The $27.7 million assumes a public offering price of $10.15 — the last reported sale price of its common share on the Nasdaq on July 24. Net proceeds will increase by about $4.2 million if underwriters exercise an overallotment option.
Aegis Capital is listed as the underwriter in the offering.
Net proceeds will go toward operations and other general corporate purposes, including repayment of loans, working capital, intellectual property protection and enforcement, and R&D.
In June Rosetta netted proceeds of about $6 million from a direct offering.