Nanosphere Announces $10-Million Registered Public Offering
Nanosphere, Inc. recently announced the pricing of a public offering of the company’s common stock with expected total gross proceeds of approximately $10 million. The offering is expected to close on or about December 22, 2015, subject to satisfaction of customary closing conditions.
The offering was priced at $0.47 per share of common stock (or common stock equivalent), with each share of common stock coupled with a five-year warrant to purchase one share of common stock, at an exercise price of $0.70 per share. Rodman & Renshaw, a unit of H.C. Wainwright & Co., acted as the sole book runner in connection with the offering. Joseph Gunnar & Co. acted as a co-manager and LifeSci Capital LLC acted as a financial advisor in connection with the offering. Nanosphere intends to use the net proceeds from the offering for working capital and general corporate purposes.
The securities are being offered pursuant to an effective registration statement on Form S-1 (File No. 333-207460) that was previously filed with the Securities and Exchange Commission (SEC). The securities may be offered only by means of a prospectus. The preliminary prospectus related to the offering has been filed with the SEC and a final prospectus related to the offering will be filed with the SEC on or about December 18, 2015. Copies of the preliminary prospectus and the final prospectus, when available, are on the SEC’s website located at http://www.sec.gov and may also be obtained by sending an email request to Rodman & Renshaw, a unit of H.C. Wainwright & Co., LLC, at placements@hcwco.com.
This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor may there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Nanosphere, Inc.
Nanosphere is enhancing medicine through targeted molecular diagnostics that result in earlier disease detection, optimal patient treatment and improved healthcare economics. The Company’s versatile technology platform, the Verigene(R) System, enables clinicians to rapidly detect the most complex, costly and deadly infectious diseases through a low cost and simple-to-use multiplexed diagnostic test. The combination of this innovative technology and Nanosphere’s customer-driven solutions keeps commitment to the patient at the forefront of its business. Nanosphere is based in Northbrook, IL. Additional information is available at http://www.nanosphere.us.
Contacts:
Investors:
Michael Rice, LifeSci Advisors
646-597-6979
mrice@lifesciadvisors.com
Media:
Zachary Crowther, Director of Marketing
847-400-9074
zcrowther@nanosphere.us
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