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Cancer Genetics prices $7M direct offering of units

Cancer Genetics Inc. priced its registered direct offering of 3.5 million units at $2 per unit to raise about $7 million in gross proceeds.

Each unit consists of 1 common share and one warrant to buy a single common share at $2.35 per share.

Each warrant will be exercisable six months after issuance and will expire 18 months after issuance.

The offering is expected to close Dec. 12, subject to customary closing conditions.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.