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NEW YORK — Interpace Biosciences said on Monday that it has signed an agreement to sell $20 million in Series B preferred stock and that it is planning a one-for-10 reverse stock split.

According to the Parsippany, New Jersey-based company, 1315 Capital will purchase $19 million worth of the preferred stock, with the remaining $1 million being sold to existing investor Ampersand Capital Partners. The preferred stock is convertible into common stock at a conversion price of $.60 per share prior to the planned reverse stock split.

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