Transgenomic Inc. received stockholder approval for its proposed merger with Precipio Diagnostics LLC.

Precipio Diagnostics stockholders also approved the deal.

The closing of the merger is still pending the combined company's $7 million private placement of preferred convertible securities and the conversion of all outstanding secured debt into preferred convertible securities.

The combined company will be renamed Precipio Inc. and be relisted on Nasdaq under the PRPO ticker symbol.