NEW YORK (GenomeWeb News) – UK miniature mass spectrometry firm Microsaic Systems today announced a conditional placing of about 3.9 million shares to raise £1.6 million ($2.5 million).

The shares are priced at 40 pence per share. The conditional placing, which was oversubscribed, is with certain existing institutional and other investors. The placing is conditional on the passage of certain resolutions to be proposed at Microsaic's annual general meeting to be held on May 30.

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