HTG Molecular Diagnostics Inc. completed an offering of common shares and a private placement of prefunded warrants for aggregate gross proceeds of $22.5 million.
The company sold 29,298,537 common shares priced at 65 cents apiece under the public offering, as well as 3,821,548 shares sold after the underwriters exercised their option in full to purchase additional shares. Total gross proceeds from the public offering was about $19 million.
Meanwhile, the company sold 5,411,687 prefunded warrants exercisable for a total of 5,411,687 common shares at 64 cents each under a concurrent private placement. The placement raised about $3.5 million in gross proceeds.
Cantor Fitzgerald & Co. acted as sole book-running manager for the public offer.
Tucson, Ariz.-based HTG provides technology to help develop precision medicine and identify treatment options for patients.
