By Sheri Kasprzak
New York, Feb. 5 - Nanogen, Inc. closed a direct placement for $7,571,667.
The company issued 4,916,667 shares at $1.54 each to a group of institutional investors.
The investors also received warrants for 983,333 shares, exercisable at $1.85 each for five years.
Ascendiant Securities LLC is the placement agent.
The shares are being sold under the company's shelf registration.
San Diego-based Nanogen develops human molecular diagnostic products used in clinical laboratories and point-of-care markets.
| Issuer: | Nanogen, Inc.
|
| Issue: | Stock
|
| Amount: | $7,571,667
|
| Shares: | 4,916,667
|
| Price: | $1.54
|
| Warrants: | For 983,333 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.85
|
| Agent: | Ascendiant Securities LLC
|
| Announcement date: | Feb. 5
|
| Stock symbol: | Nasdaq: NGEN
|
| Stock price: | $1.54 at close Feb. 5
|
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