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stock offering

Biocept closed a $14.8 million public offering earlier this year and recently reported ending the second quarter with $2.6 million in cash and cash equivalents.

The filing follows the firm's recent close of a $2 million non-convertible debt instrument and CE marking for its tuberculosis test.

Proceeds from the offering, expected to close on or about Aug. 14, could be used to fund acquisitions, to repay existing debts, or for working capital.

The company had previously said that it expected gross proceeds of up to $22.6 million if rights to all 25,000 securities units were exercised.

Proceeds from the offering could be used to fund acquisitions, to repay existing debts, or for working capital.

The company said proceeds will be used for working capital, and may also be used to acquire or invest in complementary businesses or technologies.

The firm has reached a deal with certain investors for the purchase of units comprising OncoCyte common shares and warrants to purchase shares.

Veracyte will offer 5 million shares at $10.25 per share. It has granted underwriters an option to purchase an additional 750,000 shares.

The firm will use the proceeds for working capital, but said it may also acquire or invest in complementary technologies or businesses.

The company hopes to use proceeds from the stock offering to support the commercial launch of its Digital Spatial Profiling platform next year.

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