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CombiMatrix Completes $12M Public Offering

NEW YORK (GenomeWeb News) – CombiMatrix today said it has closed its public offering of 12,000 units of Series D convertible preferred stock and warrants, raising $12 million in gross proceeds.

The units were priced at $1,000 each, and consisted of one share of Series D convertible preferred stock — which can be converted into 485.4369 shares of common stock at a conversion price of $2.06 per share — and one warrant to purchase 485.4369 shares of common stock at an exercise price of $3.12 per share.

The array-based molecular diagnostic company disclosed its offering in September and priced its offering earlier this week.

Net proceeds from the offering are anticipated to be about $10.8 million, CombiMatrix said. Ladenburg Thalmann was the underwriter on the offering,

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