NEW YORK – Epigenetics firm VolitionRx said on Thursday that it has priced a planned public offering of 13 million shares of common stock at $1.27 per share, with expected gross proceeds of $16.5 million.
The Henderson, Nevada-based company said that it has also granted the underwriters of the offering a 30-day option to purchase an additional 1.95 million shares at the offering price.
Freedom Capital Markets is acting as the bookrunning manager of the offering and Bancroft Capital is acting as co-manager.
The offering is expected to close on or around June 5. During late morning trading on the New York Stock Exchange, shares of VolitionRx were down around 6 percent at $1.45.
VolitionRx is developing blood-based diagnostics based on its core Nu.Q nucleosome quantification platform. These include ones for cancer and various conditions associated with NETosis, a form of cell death characterized by the release of neutrophil extracellular traps (NETs) that trap and kill bacteria and viral particles.
The company said it will use the proceeds of the offering for R&D, clinical studies, product commercialization, working capital, and general corporate purposes.
Earlier this year, the company closed an $8.7 million public offering.