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WaferGen Files for $40M Public Offering; Seeks Move to Nasdaq

NEW YORK (GenomeWeb) – WaferGen Biosystems has filed with regulators to offer up to $40 million of its common stock.

In its Form S-1 filed recently with the US Securities and Exchange Commission, the company also said that it has applied with the Nasdaq to list its common shares on the Nasdaq Capital Market under ticker symbol "WGBS." The company said that it expects the Nasdaq listing to occur upon consummation of the $40 million offering. WaferGen currently lists its stock on the OTCQB Marketplace.

Additionally, it sought and received shareholder approval for a reverse stock split in the range of one-for-two and one-for-25. WaferGen has one year to implement the split.

In October the firm completed a private placement netting about $15 million. Last month it said that its first quarter revenues rose sharply to $1.4 million, and it exited the quarter with $6.4 million in cash and cash equivalents.