NEW YORK (GenomeWeb News) – Helicos BioSciences said after the close of the market yesterday that it has priced a registered direct offering of 6.4 million units at $1 per unit, which would provide the firm with $6.4 million in gross proceeds.
Each unit in the offering consists of one share of Helicos common stock and a warrant to buy .65 of a share of common stock. The warrants are exercisable for a period of five years beginning six months after issuance, at an exercise price of $1.4385 per share.
Helicos expects to close the offering on or around Dec. 21.
The firm plans to use the proceeds for its ongoing research and development efforts and general corporate purposes.
Helicos filed a registration statement with the US Securities and Exchange Commission in early November, in which it said that it may offer up to $50 million worth of its common stock and/or warrants to purchase common stock in one or more transactions.
In early Wednesday trade on the Nasdaq, shares of Helicos tumbled 30 percent to $.96.