By Sheri Kasprzak
New York, June 7 - NeoGenomics, Inc. settled a $4.005 million private placement of stock.
The company sold 2.67 million shares at $1.50 each.
Noble Financial Group was the placement agent for the deal.
Proceeds will be used to repay $1.7 million in existing short-term debt. The rest will be used for general corporate purposes.
In other news, NeoGenomics entered into a $4 million credit facility with Wachovia Bank. The facility bears interest at Libor plus 302 basis points.
Based in Fort Myers, Fla., NeoGenomics is a cancer genetics diagnostics testing company.
Issuer: | NeoGenomics, Inc.
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Issue: | Stock
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Amount: | $4.005 million
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Shares: | 2.67 million
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Price: | $1.50
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Warrants: | No
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Placement agent: | Noble Financial Group
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Settlement date: | June 7
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Stock symbol: | OTCBB: NGNM
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Stock price: | $1.76 at close June 6
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