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Danaher has commenced its concurrent offerings of $1.35 billion of shares of its common stock and $1.35 billion of shares of its mandatory convertible preferred stock.
The company will use proceeds to support commercialization of its lung cancer liquid biopsy test, and to fund studies to cement reimbursement and adoption.
Biocept is offering 6.25 million shares of its common stock and warrants to purchase up to 6.25 million shares of the common stock at a combined price $1.20 per share and warrant.
The announcement comes one day after the company said it had sold $3 million worth of preferred stock in a transaction that eliminated its debt.
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.