On February 8, 2019 OncoCyte Corporation (NYSE American: OCX) ("OncoCyte"), a developer of novel, non-invasive liquid biopsy tests for the early detection of cancer, reported the pricing of an underwritten public offering of 9,333,334 shares of its common stock at a public offering price of $3.75 per share, for aggregate gross proceeds of approximately $35 million (Press release, BioTime, FEB 8, 2019, View Source [SID1234533178]). OncoCyte has granted the underwriters a 30-day option to purchase up to an additional 1,400,000 shares of common stock at the public offering price to cover over-allotments, if any.
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OncoCyte intends to use the net proceeds of the public offering to support its DetermaVuTM commercialization efforts and additional clinical studies to support reimbursement and adoption, to initiate future product development, and for general corporate and working capital purposes. The offering is expected to close on or about February 12, 2019, subject to the satisfaction of customary closing conditions.
Piper Jaffray is acting as the sole book-running manager and Janney Montgomery Scott is acting as the co-manager for the offering.
The shares are being offered by OncoCyte pursuant to a shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission ("SEC") on October 2, 2017 and declared effective by the SEC on October 16, 2017. The offering is being made only by means of a written prospectus and prospectus supplement. A preliminary prospectus supplement (and accompanying base prospectus) relating to the offering has been filed with the SEC, and a final prospectus supplement (and accompanying base prospectus) relating to the offering will be filed with the SEC. These documents are or will be available on the SEC’s web site at www.sec.gov. Alternatively, copies of the final prospectus supplement (and accompanying base prospectus) relating to the offering, when available, may be obtained from Piper Jaffray & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by email at [email protected], or by phone at (800) 747-3924.
This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.