Raymond James assists in funding product development, clinical studies
By Devika Patel
Knoxville, Tenn., March 23 – VolitionRX Ltd. said the underwriters for its public offering of stock opted to exercise the deal’s $1.84 million greenshoe in full, lifting total proceeds of the offering to $14.09 million. The deal was announced March 17 and priced for $12.25 million with the greenshoe on March 18.
The company sold 4,334,615 common shares at $3.25 per share. The price per share is a 10.47% discount to the March 17 closing share price of $3.63. Of the shares, 565,384 were part of the fully exercised greenshoe.
Raymond James & Associates, Inc. was the bookrunner.
Proceeds will be used for product development, clinical studies, product commercialization, working capital and other general corporate purposes.
The Singapore-based life sciences company is focused on developing blood-based diagnostic tests.
| Issuer: | VolitionRX Ltd.
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| Issue: | Common stock
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| Amount: | $14,087,499, including $1,837,498 greenshoe of 565,384 shares
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| Shares: | 4,334,615
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| Price: | $3.25
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| Warrants: | No
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| Bookrunner: | Raymond James & Associates, Inc.
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| Co-managers: | National Securities Corp. and Lake Street Capital Markets
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| Announcement date: | March 17
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Stock symbol: | NYSE: VNRX
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| Stock price: | $3.63 at close March 17
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| Market capitalization: | $72.44 million
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