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HTG Molecular Diagnostics Raises $40.4M in Public Offering

NEW YORK (GenomeWeb) – HTG Molecular Diagnostics said yesterday that it has completed its previously announced underwritten public offering.

The company sold approximately 13.9 million shares of its common stock at a price to the public of $2.90 per share, including about 1.8 million shares pursuant to the exercise in full of the underwriters' option to purchase additional shares.

The aggregate gross proceeds from the offering are approximately $40.4 million, before deducting underwriting discounts and commissions and offering expenses.

The company said it 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.