On February 12, 2019 OncoCyte Corporation (NYSE American: OCX) ("OncoCyte"), a developer of novel, non-invasive liquid biopsy tests for the early detection of cancer, reported the closing of an underwritten public offering (Press release, Oncocyte, FEB 12, 2019, View Source [SID1234533275]). Following the exercise in full by the underwriters of their option to purchase up to an additional 1,400,000 shares of common stock at the public offering price, OncoCyte sold 10,733,334 shares of its common stock at a public offering price of $3.75 per share, for aggregate gross proceeds of approximately $40.25 million, from the Company’s existing shelf registration statement .
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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.
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 final prospectus supplement (and accompanying base prospectus) relating to the offering has been filed with the SEC and is 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 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.