By Devika Patel
Knoxville, Tenn., Dec. 29 - Vermillion, Inc. arranged a $43.05 million private placement of shares on Dec. 24, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The placement is part of the company's exit from bankruptcy.
The company will sell 2,328,000 common shares at $18.4932 apiece.
Settlement is expected Jan. 7.
Fremont, Calif.-based Vermillion specializes in the discovery, development and commercialization of novel high-value diagnostic tests that help physicians diagnose, treat and improve outcomes for patients.
| Issuer: | Vermillion, Inc.
|
| Issue: | Common shares
|
| Amount: | $43,052,170
|
| Shares: | 2,328,000
|
| Price: | $18.4932
|
| Warrants: | No
|
| Pricing date: | Dec. 24
|
| Settlement date: | Jan. 7
|
| Stock symbol: | Pink Sheets: VRMLQ
|
| Stock price: | $22.00 at close Dec. 24
|
| Market capitalization: | $176 million
|
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