On November 2, 2020 Cancer Genetics, Inc. (Nasdaq: CGIX) ("Cancer Genetics" or "the Company"), a leader in drug discovery and preclinical oncology and immuno-oncology services, reported the closing of its previously announced underwritten public offering of 1,568,182 shares of its common stock ("Common Stock"), inclusive of the full exercise by the underwriter of its option to purchase 204,545 shares of Common Stock, at a public offering price of $2.20 per share (Press release, Cancer Genetics, NOV 2, 2020, View Source [SID1234569686]). The gross proceeds from the offering, before deducting the underwriting discounts and commissions and offering expenses are approximately $3.45 million.
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H.C. Wainwright & Co. acted as the sole book-running manager for the offering.
Cancer Genetics intends to use the net proceeds from this offering to fund working capital and other general corporate purposes.
A shelf registration statement on Form S-3 relating to the public offering of the shares of common stock described above was filed with the Securities and Exchange Commission ("SEC") and was declared effective on July 21, 2020. A prospectus supplement describing the terms of the offering was filed with the SEC on October 29, 2020, and is available on the SEC’s website located at View Source Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained, when available, from H.C. Wainwright & Co., LLC, 430 Park Avenue 3rd Floor, New York, NY 10022, or by calling (646) 975-6996 or by emailing [email protected] or at the SEC’s website at View Source
This press release shall 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. Any offer, if at all, will be made only by means of the prospectus supplement and accompanying prospectus forming a part of the effective registration statement.