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HTG Molecular Diagnostics Prices Public Stock Offering

NEW YORK (GenomeWeb) – HTG Molecular Diagnostics today announced the pricing of a previously announced public stock offering.

The Tucson, Arizona-based provider of molecular profiling tools and services said that it is offering 12.1 million shares of its common stock at a price to the public of $2.90 per share. Gross proceeds from the offering are expected to be $35.1 million, before deducting underwriting discounts and commissions and offering expenses.

The company anticipates using net proceeds for working capital and general corporate purposes, which may include capital expenditures and research and development, sales and marketing, and general and administrative expenses.

HTG expects the offering to close on Jan. 23, and has granted underwriters a 30-day option to purchase up to 1.815 million shares of its common stock at the public offering price, less underwriting discounts and commissions. Leerink Partners and Cantor Fitzgerald are acting as joint book-running managers for the offering, and LifeSci Capital is acting as co-manager.

The shares are being offered by HTG pursuant to a shelf registration statement filed by the company in April 2017.

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