NEW YORK – Epigenetics firm VolitionRx announced Wednesday that it has priced its registered direct offering of securities and expects to raise up to $2.3 million upfront with additional proceeds of up to $1.1 million upon the exercise in full of common stock purchase warrants.
The firm has entered into definitive agreements for the purchase and sale of 2,363,636 shares of its common stock to certain directors, executive officers, and existing shareholders for $.55 per share. It also will offer 1,739,087 shares of its common stock together with common stock purchase warrants to purchase up to 1,739,087 shares of common stock at a combined offering price of $.55 per share and accompanying warrant to certain other existing shareholders and new investors. Each warrant has an exercise price per share of $.66 and is exercisable immediately upon issuance, the Henderson, Nevada-based company said in a statement.
The purchasers of the 2,363,636 shares will not receive any warrants in the offering. The securities will be issued and sold by VolitionRx directly to investors and without a placement agent. The offering is expected to close on or about March 26, 2025.
The firm said it plans to use the net proceeds from the offering for research and continued product development, clinical studies, product commercialization, working capital, and other general corporate purposes.
VolitionRx is developing blood-based diagnostics and patient monitoring tests that use the firm's proprietary Nu.Q nucleosome quantification technology. The assays are to aid the diagnosis and monitoring of cancers and infectious diseases, including sepsis.