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Rosetta to Sell $5.1M in Securities to Institutional Investors

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Rosetta Genomics last week said that it has received commitments from institutional investors to purchase roughly $5.1 million of its securities in a registered direct offering.

Net proceeds of the sale are expected to be approximately $4.5 million, and will be used for corporate purposes, including, but not limited to, repayment or refinancing of existing indebtedness or other corporate borrowings, working capital, intellectual property protection and enforcement, capital expenditures, investments, acquisitions or collaborations, research and development, and product development, the company said.

Under the terms of the offering, Rosetta will sell an aggregate of 2,530,000 shares of its ordinary shares and warrants to purchase up to 1,265,000 additional ordinary shares. Each unit, consisting of one ordinary share and a warrant to purchase a half of an ordinary share, will be sold for a purchase price of $2.

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