NEW YORK (GenomeWeb) – Rosetta Genomics said today that it has priced a public offering of 1.9 million securities units at $1.40 each for gross proceeds of roughly $2.7 million.
The units consist of one ordinary share and a warrant to purchase half an ordinary share. The warrants to purchase an aggregate of 974,987 ordinary shares have an exercise price of $1.50 per ordinary share. The warrants will become exercisable immediately upon issuance and expire in five years.
Rosetta said it would use the proceeds of the offering, which is expected to close on or about August 9, for its operations and for other general corporate purposes, which include repayment or refinancing of indebtedness or other corporate borrowings, working capital, intellectual property protection and enforcement, capital expenditures, investments, acquisitions or collaborations, research and development, and product development.
During morning trading on the Nasdaq, shares of Rosetta were down 10 percent at $1.46.