NEW YORK (GenomeWeb) – Interpace Diagnostics said on Monday that it has entered into a purchase agreement with a single institutional investor to raise about $1.7 million in net proceeds in a direct stock offering.

Under the terms of the deal, the unnamed investor will purchase 2 million shares of Interpace's common stock at $.53 per share and 1.6 million prefunded warrants to purchase common stock at $.52 per share. The offering is anticipated to close on or about Dec. 22. Maxim Group acted as the exclusive placement agent for the offering.