Skip to main content

WaferGen Completes $20M Stock Offering

NEW YORK (GenomeWeb) – WaferGen Biosystems announced today that it has completed an offering of common stock and warrants that brought in gross proceeds of $20 million.

The offering comprises 2,000 units priced at $10,000 per unit. Each unit consists of 2,000 shares of common stock and 2,000 warrants to purchase shares of the firm's common stock. In total, 4 million shares of common stock and warrants to purchase 4 million shares were issued in the offering. The warrants have a term of five years and an exercise price of $5 per share.

The offering brought in net proceeds of approximately $18 million. WaferGen said that it intends to use $1.3 million of the funds to repay existing debt, and the rest will be used for general corporate and working capital purposes.

Ladenburg Thalmann & Co. was the sole book-running manager for the offering, while National Securities Corp. and Brean Capital were co-managers on the offering.

Last Friday, when the firm announced the offering, its shares dropped more than 50 percent to close at $4.95. In afternoon trading today, WaferGen shares were up a fraction of 1 percent at $4.60.

The Scan

Call to Look Again

More than a dozen researchers penned a letter in Science saying a previous investigation into the origin of SARS-CoV-2 did not give theories equal consideration.

Not Always Trusted

In a new poll, slightly more than half of US adults have a great deal or quite a lot of trust in the Centers for Disease Control and Prevention, the Hill reports.

Identified Decades Later

A genetic genealogy approach has identified "Christy Crystal Creek," the New York Times reports.

Science Papers Report on Splicing Enhancer, Point of Care Test for Sexual Transmitted Disease

In Science this week: a novel RNA structural element that acts as a splicing enhancer, and more.