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Wafergen Raises $15.7M in Public Offering

NEW YORK (GenomeWeb) – Wafergen Biosystems today said that it has raised $15.7 million in net proceeds from a public offering. 

The firm issued a total of 6,170,000 shares of common stock, shares of preferred stock convertible into approximately 11,080,000 shares of common stock, and warrants to purchase 17,250,000 shares of common stock. 

The company said last week that it expected $13.6 million in net proceeds from the offering, though prior to that it had expected net proceeds of about $20.8 million.

Wafergen said the offering's underwriters have exercised their overallotment option, resulting in gross proceeds of $17.3 million. Ladenburg Thalmann was the sole book-running manager for the offering, while Chardan Capital Markets and Dougherty were the co-managers. 

Proceeds will go toward R&D initiatives, the commercialization of the Icell8 single-cell system launched earlier this month, and general corporate and working capital purposes.

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