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Biocept prices $9.3M financing

Biocept Inc. entered into agreements with institutional investors to sell 4,320,000 shares of common stock at $2.15 per share and warrants to purchase up to 2,160,000 shares of common stock with an exercise price of $2.50 per share.

The offering's gross proceeds are expected to be approximately $9.3 million. Net proceeds, expected to be about $8.4 million, will be used for working capital and general corporate purposes. The offering is expected to close by March 31.

Roth Capital Partners is acting as lead placement agent for the offering, and WestPark Capital Inc. and Chardan Capital are acting as co-placement agents.