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TrovaGene prices common stock, warrants offering

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TrovaGene prices common stock, warrants offering

TrovaGene Inc. priced a public offering of 15 million common shares plus common warrants to buy an equal number of common shares.

Each common share, together with an accompanying common warrant, was priced at a combined effective price of 30 cents per share. Each common warrant would be exercisable immediately at an exercise price of 30 cents per share and will expire five years from the date of issuance.

The offering is expected to close Dec. 19, subject to customary closing conditions.

TrovaGene expects net proceeds of about $4.1 million, excluding the proceeds, if any, from the exercise of the warrants. The biotechnology company intends to use the net proceeds to fund research and development activities and for working capital and general corporate purposes.

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