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Posted On: 01/03/2017 4:18:35 PM
Post# of 22851
$IDXG: ..18 MINUTES ago..Interpace Diagnostics Announces $4.2 Million Registered Direct Offering of Common Stock
PARSIPPANY, N.J., Jan. 3, 2017 /PRNewswire/ -- Interpace Diagnostics Group, Inc. (NASDAQ: IDXG)("Interpace" or the "Company"
, a company that provides clinically useful molecular diagnostic tests and pathology services, today announced that it has entered into a securities purchase agreement with certain institutional investors to purchase an aggregate of 375,000 shares of common stock at a price of $6.75 per share and an aggregate of 255,000 pre-funded warrants to purchase common stock, at a purchase price of $6.74 per share, with $0.01 per share payable upon exercise of each pre-funded warrant, in a registered direct offering with aggregate gross proceeds of approximately $4.2 million. The offering is expected to close on or about January 6, 2017, subject to the satisfaction of customary closing conditions.
Maxim Group LLC acted as exclusive placement agent for the offering.
After deducting the placement agent's commission and other estimated offering expenses payable by Interpace, the net proceeds to Interpace are anticipated to be approximately $3.7 million. Interpace intends to use the net proceeds of the offering for working capital, repayment of indebtedness and general corporate purposes.
The securities described above are being offered under the Company's shelf registration statement on Form S-3 (No. 333-207263), including a base prospectus, previously filed with and declared effective by the U.S. Securities and Exchange Commission (SEC). The securities will be offered by means of a prospectus supplement and accompanying prospectus, forming a part of the effective registration statement. The prospectus supplement and accompanying prospectus related to the offering will be filed with the SEC and will be available on the website of the SEC at http://www.sec.gov. Electronic copies of the prospectus supplement and accompanying prospectus also may be obtained from Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, at 212-895-3745. Before you invest, you should read the prospectus supplement and the accompanying prospectus in that registration statement and other documents Interpace has filed or will file with the SEC for more complete information about Interpace and the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Interpace Diagnostics Group, Inc.
PARSIPPANY, N.J., Jan. 3, 2017 /PRNewswire/ -- Interpace Diagnostics Group, Inc. (NASDAQ: IDXG)("Interpace" or the "Company"
, a company that provides clinically useful molecular diagnostic tests and pathology services, today announced that it has entered into a securities purchase agreement with certain institutional investors to purchase an aggregate of 375,000 shares of common stock at a price of $6.75 per share and an aggregate of 255,000 pre-funded warrants to purchase common stock, at a purchase price of $6.74 per share, with $0.01 per share payable upon exercise of each pre-funded warrant, in a registered direct offering with aggregate gross proceeds of approximately $4.2 million. The offering is expected to close on or about January 6, 2017, subject to the satisfaction of customary closing conditions. Maxim Group LLC acted as exclusive placement agent for the offering.
After deducting the placement agent's commission and other estimated offering expenses payable by Interpace, the net proceeds to Interpace are anticipated to be approximately $3.7 million. Interpace intends to use the net proceeds of the offering for working capital, repayment of indebtedness and general corporate purposes.
The securities described above are being offered under the Company's shelf registration statement on Form S-3 (No. 333-207263), including a base prospectus, previously filed with and declared effective by the U.S. Securities and Exchange Commission (SEC). The securities will be offered by means of a prospectus supplement and accompanying prospectus, forming a part of the effective registration statement. The prospectus supplement and accompanying prospectus related to the offering will be filed with the SEC and will be available on the website of the SEC at http://www.sec.gov. Electronic copies of the prospectus supplement and accompanying prospectus also may be obtained from Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, at 212-895-3745. Before you invest, you should read the prospectus supplement and the accompanying prospectus in that registration statement and other documents Interpace has filed or will file with the SEC for more complete information about Interpace and the offering.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
About Interpace Diagnostics Group, Inc.
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