Cancer Genetics Announces Closing Of $12 Million Public Offering


Cancer Genetics, Inc. recently confirmed the closing of its previously announced public offering of 3,000,000 shares of its common stock with 5-year warrants to purchase 3,000,000 shares of common stock at an exercise price of $5.00 per share at a combined price to the public of $4.00. Cancer Genetics’ gross proceeds from this offering were $12 million before deducting underwriting discounts and commissions, as well as other estimated offering expenses payable by Cancer Genetics. The underwriters were granted a 45-day option to purchase up to an aggregate of 450,000 additional shares of common stock and/or warrants. The underwriters’ option to purchase additional warrants was exercised and sold this past week.

Joseph Gunnar & Co., LLC and Feltl and Company, Inc. acted as the joint book-running managers for the offering. Axiom Capital Management, Inc. acted as co-manager for the offering.

The net proceeds of the offering are estimated to be approximately $10.5 million, after deducting underwriting discounts and commissions and estimated offering expenses. Cancer Genetics intends to use the net proceeds from the offering for the integration of recent acquisitions; sales and marketing to support new product launches; and to fund contributions to OncoSpire, Cancer Genetics’ joint venture with the Mayo Clinic.
A final prospectus relating to this offering has been filed with the SEC, and may be obtained at the SEC’s website at www.sec.gov, or may be obtained from Joseph Gunnar & Co, LLC, Prospectus Department, 30 Broad Street, 11th Floor, New York, NY 10004, telephone 212-440-9600, email: prospectus@jgunnar.com or from Feltl and Company, Inc., Prospectus Department, 2100 LaSalle Plaza, 800 LaSalle Avenue, Minneapolis, MN 55402, telephone 612-492-8800, email: prospectus@feltl.com.

Cancer Genetics Inc. is an emerging leader in DNA-based cancer diagnostics, servicing some of the most prestigious medical institutions in the world. Its tests target cancers that are difficult to diagnose and predict treatment outcomes. These cancers include hematological, urogenital, and HPV-associated cancers. The company also offers a comprehensive range of non-proprietary oncology-focused tests and laboratory services that provide critical genomic information to healthcare professionals, as well as biopharma and biotech companies. Its state-of-the-art reference labs are focused entirely on maintaining clinical excellence and are both CLIA-certified and CAP- accredited and have licensure from several states, including New York State.
It has established strong research collaborations with major cancer centers, such as Memorial Sloan-Kettering, The Cleveland Clinic, Mayo Clinic, and the National Cancer Institute. For more information, visit www.cancergenetics.com.