Cancer Genetics: Slumps on $17.5 mln equity offering

Vyant Bio

11/02/2021 11:31

** Cancer Genetics Inc's  CGIX.O  shares drop 20.5% to $6.83
premarket
    ** Co on Wednesday aftermarket entered into a deal with
several healthcare-focused institutional investors to sell ~2.7
mln shares, as it looks to raise about $17.5 mln  urn:newsml:reuters.com:*:nGNX2GkYKg 
    ** Sale price set at $6.30 per share in a registered direct
offering priced at-the-market under Nasdaq rules
    ** Offering is expected to close on or about Feb. 16
    ** Co will use net proceeds for general corporate purposes
    ** CGIX has 4.09 mln shares outstanding and 2.63 mln shares
of free float - Refinitiv data
    ** H.C. Wainwright & Co. is the exclusive placement agent
for the offering

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325;))