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NEW YORK (360Dx) – Vermillion announced after the close of the market Thursday that it plans to make separate but concurrent offerings of its common and convertible preferred stock, with the aim of raising gross proceeds of $15 million.

The company will offer 10 million shares of its common stock at a price of $1.00 per share and 50,000 shares of its Series B Convertible Preferred Stock at a price of $100.00 per share. The convertible preferred shares are non-voting and each is convertible to 100 shares of Vermillion common stock.

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