VolitionRx Limited (NYSEMKT:VNRX), a life sciences company focused on developing diagnostic tests for cancer, has priced its public offering of 2.25mln shares at $5.00 per share, resulting in gross proceeds of $11.25mln.
The offering is expected to close on or about October 5, subject to the satisfaction of customary closing conditions. Volition has granted the underwriters a 30-day option to purchase up to 337,500 additional shares of common stock to cover over-allotments, if any.
National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation (NASDAQ:NHLD), is acting as sole book-running manager for the offering. Lake Street Capital Markets and The Benchmark Company, LLC have acted as advisors in the offering.
Volition intends to use the net proceeds of the offering for continued product development, clinical studies, product commercialization, working capital, and for other general corporate purposes.
Story by ProactiveInvestors