CombiMatrix to price $8.4 million public offering of preferred units

Units to consist of series F preferred stock and 50% warrant coverage

By Devika Patel

Knoxville, Tenn., Dec. 22 – CombiMatrix Corp. will conduct an $8.4 million public sale of units, according to a Form S-1 filed Tuesday with the Securities and Exchange Commission. The company has registered up to $13,002,740 of underlying stock.

The company will sell 8,400 series F preferreds with 50% warrant coverage at $1,000 per unit, with the warrants exercisable for up to 5,753,425 common shares for five years.

The preferreds convert to common stock.

Ladenburg Thalmann is the bookrunner, and Aegis Capital Corp. is the lead manager.

Proceeds will be used for working capital and general corporate purposes.

Based in Irvine, Calif., CombiMatrix is a biotechnology company.

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