Interpace Diagnostics Group Inc. plans to raise about $4 million in a registered direct offering of common shares and a concurrent private placement of warrants.

The company will sell 855,000 common shares and warrants to purchase an equivalent number of shares to three institutional investors. The combined purchase price for one registered share of common stock and one warrant is $4.69.

The warrants have an exercise price of $4.69 per share. The warrants will be immediately exercisable after the closing of the private placement and will expire after the five years.

Gross proceeds to the company from the registered direct offering and concurrent private placement are estimated to be about $4.0 million before deducting the placement agent's fee and other estimated offering expenses. Net proceeds will be used for working capital, repayment of debt and general corporate purposes.

The offering and placement are expected to close on or about Jan. 25, subject to customary closing conditions.

Maxim Group LLC is acting as the exclusive placement agent for the offering.