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CombiMatrix Raises $1.45M in Second Tranche of Private Placement

NEW YORK (GenomeWeb News) – CombiMatrix said after the close of the market on Friday that it raised $1.45 million in a second tranche of its Series A Preferred Stock.

The raise is part of a private placement announced in October. Last week, CombiMatrix said that it raised $1.05 million in gross proceeds in the first tranche and that shareholders had approved the second tranche.

In the second tranche, the Irvine, Calif.-based company sold and issued 1,449.29961 shares of the Series A Stock to investors at a price of $1,000 per share. CombiMatrix issued each investor a warrant to purchase the firm's common stock initially exercisable for a number of shares of common stock equal to the number of shares of common stock issuable upon conversion at the conversion price of the stock acquired by the investor. The exercise price of the warrants issued in the second tranche is $2.364.