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CombiMatrix Increases Anticipated Net Proceeds from Public Offering to up to $12.2M

NEW YORK (GenomeWeb News) – CombiMatrix today raised the expected net proceeds from an intended public offering of its securities.

In a document filed with the US Securities and Exchange Commission, the company said that net proceeds from its proposed offering of 10,000 shares of Series D preferred stock is now estimated at up to $12.2 million, an increase from a previous estimate of up to $10.4 million.

The company said it expects net proceeds of $9.0 million from the sale of the units, and if the underwriter for the offering exercises its options in full, that figure would increase to $12.2 million.

Ladenburg Thalmann is the underwriter on the offering, which was originally disclosed by CombiMatrix in September. The company intends to offer 10,000 shares of Series D preferred stock and warrants to purchase up to a little more than 4.1 million shares of common stock. The proposed offering also includes about 4.1 million shares of common stock underlying the Series D preferred stock and 4.1 million shares of common stock issuable upon exercise of the warrants.

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