VolitionRx (NYSE-A:VNRX) Limited announced that it has priced its underwritten public offering of 4.3 million company common shares at $1.75 per share, with expected gross proceeds to Volition of $7.525 million.
The multi-national epigenetics company said it intends to use the net proceeds from the offering for research and continued product development, clinical studies, product commercialization, working capital and other general corporate purposes, including potential strategic acquisitions.
Volition noted that it has granted the underwriter a 30-day option to purchase up to an additional 645,000 shares of its common stock at the public offering price, less underwriting discounts and commissions, to cover over-allotments in connection with the offering.
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It added that Newbridge Securities Corporation is acting as the sole book-running manager of the offering.
The offering is expected to close on or about February 22, 2023, subject to the satisfaction of customary closing conditions, according to the company.
VolitionRx (NYSE-A:VNRX) is developing simple, easy-to-use, cost-effective blood tests to help diagnose and monitor a range of life-altering diseases including cancer in both humans and animals.
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