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Accelerate Diagnostics Inc Announces Plans For Rights Offering To Stockholders


Tuesday, 4 Jun 2013 06:02am EDT 

Accelerate Diagnostics Inc announced that it has filed a Registration Statement on Form S-3 with the Securities and Exchange Commission (the SEC) for a rights offering to existing holders of common stock. Upon completion of the rights offering, the Company will receive gross proceeds of approximately $20,000,000 before expenses. The Company has received a standby commitment from Abeja Ventures, LLC, which is owned by, among other individuals and entities, Lawrence Mehren, John Patience, Jack Schuler and Matthew W. Strobeck, each of whom is a director of the Company. The standby purchaser has agreed to purchase any and all shares of common stock that are not subscribed for by stockholders in connection with the rights offering. The rights offering will be made through the Company's distribution to existing stockholders of non-transferable subscription rights to purchase their pro rata portion of newly issued shares of the Company's common stock. The subscription price has not yet been determined but will be based on the closing market price of the Company's common stock. The net proceeds of the offering will be used for working capital and specifically to fund the Company's business plan and product commercialization efforts. 

Company Quote

21.55
0.56 +2.67%
31 Oct 2014