Deal sells share, a half-share warrant, a partially pre-funded warrant
By Devika Patel
Knoxville, Tenn., Oct. 14 – Rosetta Genomics Ltd. arranged an $8 million private placement of units on Oct. 13, according to a 6-K filed Wednesday with the Securities and Exchange Commission. Aegis Capital Corp. is the agent.
The company will sell 3,333,333 units of one ordinary share, one half-share series A warrant and a partially pre-funded series B warrant at $2.40 per unit.
The whole series A warrants are each exercisable at $2.75 for five years. The strike price reflects a 7.84% premium to the Oct. 12 closing share price of $2.55.
The series B warrants have an exercise price of NIS 0.6, which has been prepaid, plus $0.0001 per share. The series B warrants are intended to reset the price of the units, and will be exercisable for a number of ordinary shares based on a reset price per unit equal to 85% of the arithmetic average of the five lowest weighted average prices calculated during the 10 trading days following the effective date of the Resale Registration Statement. The 60-day series B warrants are exercisable for up to 2,666,667ordinary shares.
Settlement is expected Oct. 16.
Based in Rehovot, Israel, Rosetta Genomics develops and provides microRNA-based molecular diagnostics.
| Issuer: | Rosetta Genomics Ltd.
|
| Issue: | Units of one ordinary share, one half-share series A warrant and a partially pre-funded series B warrant
|
| Amount: | $8 million
|
| Units: | 3,333,333
|
| Price: | $2.40
|
| Warrants: | One half-share series A warrant and a partially pre-funded series B warrant per unit
|
| Warrant expiration: | Five years (series A)
|
| Warrant strike price: | $2.75 (series A)
|
| Agent: | Aegis Capital Corp.
|
| Pricing date: | Oct. 13
|
| Settlement date: | Oct. 16
|
| Stock symbol: | Nasdaq: ROSG
|
| Stock price: | $2.55 at close Oct. 12
|
| Market capitalization: | $26.11 million
|
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