NEW YORK — VolitionRx announced Friday it has priced an underwritten public offering of 3 million of its common shares at $2.00 each for gross proceeds of $6 million.
The Austin, Texas-based epigenetics firm plans to use the proceeds toward research, product development, clinical studies, product commercialization, working capital, and other general corporate purposes such as potential acquisitions.
Volition has granted its underwriter a 30-day option to buy up to 450,000 additional shares at the public offering prices. Volition officials expect to close the offering about Aug. 2.
Newbridge Securities is the bookrunning manager for the proposed offering.
In early morning trading Friday, shares of Volition were up about 5 percent to $2.28 per share on the Nasdaq.
In May, Volition officials said the company had $23.7 million in cash and cash equivalents as of March 31. The firm previously had a public offering targeting $20 million in gross proceeds in early 2021.