Cancer Genetics Announces Pricing of $3.5 Million Public Offering of Common Stock

Cancer Genetics (Nasdaq:CGIX), a leader in enabling precision medicine for immuno-oncology and genomic medicine through molecular markers and diagnostics, today announced the pricing of a public offering of 15,217,392 shares of its common stock, offered at a price to the public of $0.23 per share, for gross proceeds of approximately $3.5 million, before deducting placement agent fees and other offering expenses payable by Cancer Genetics. The offering is expected to close on or about January 31, 2019, subject to customary closing conditions.

As quoted in the press release:

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The offering is being conducted as a “best efforts” offering and the placement agent is not obligated to purchase any securities.

Cancer Genetics intends to use the net proceeds from this offering to pay any amounts required by its lenders, and if any proceeds remain available, to pay certain costs previously incurred in connection with its strategic initiatives and to fund working capital and other general corporate purposes.

Click here to read the full press release.