NEW YORK (GenomeWeb) – Molecular diagnostics firm Cancer Genetics today announced that it has signed definitive agreements to sell 2,750,000 shares of common stock to institutional investors for roughly $5.5 million in gross proceeds.

For each share purchased, the investors will also receive an unregistered warrant to buy one-half of a share of common stock at an exercise price of $2.25 a share, CGI said. The warrants are exercisable six months from the date of issuance and expire five years after their initial exercise date.