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stock offering

The company is now offering 3.6 million shares and warrants to purchase additional shares at an assumed combined price of $2.11 per share and related warrant.

The firm will use the proceeds for working capital, capital payments, business development, research and development payments, and technology and business acquisitions.

The company has agreed to sell approximately 990,000 shares at a price of $2.25 per share, yielding about $2.2 million in gross proceeds.

The firm plans to offer more than 13 million shares of its common stock at $.225 per share. The offering will close on or about Jan. 14.

The expected net proceed are now $5.4 million, down from an earlier anticipated $9.1 million. Investors reacted negatively to the news today.

The company also said that it received ISO 13485:2016 certification for its Mosaiq platform and it has filed for CE marking for its initial immunohematology microarray.

Each share comes with an accompanying warrant to purchase one share of common stock. Biocept expects to use proceeds to fund ongoing operations.

In an SEC filing, the company proposed to sell shares of its stock, each coupled with a warrant to purchase up to one additional share.

The firm intends to use the proceeds for working capital, general corporate purposes and the potential repayment of indebtedness.

The firm announced in October that had entered into an agreement with Jefferies to sell up to $50 million in shares from time to time.

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