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Nanosphere to sell $10 million class A units, class B units to public
Stock, convertible preferreds sold with warrants by Rodman & Renshaw
By Devika Patel
Knoxville, Tenn., Dec. 10 – Nanosphere, Inc. will sell $10 million of class A units and class B units through a public sale, according to a Form S-1/A filed Thursday with the Securities and Exchange Commission. The company has registered up to $25 million of underlying stock for the deal, which was announced on Oct. 16.
The class A units will consist of common stock and warrants, and the class B units will consist of series C convertible preferred stock and warrants. Each preferred is convertible into common stock.
Rodman & Renshaw is the bookrunning manager, and Joseph Gunnar & Co. is the lead co-manager.
Proceeds will be used for general corporate purposes and working capital.
The Northbrook, Ill.-based company develops and commercializes advanced molecular diagnostics systems.
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