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Provider: Wright Reports
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Combimatrix Corp Announces Approval Of Second Tranche Of Series C Preferred Stock Financing

Monday, 1 Jul 2013 06:00am EDT 

Combimatrix Corp announced that its stockholders approved the sale of shares of the Company's Series C Preferred Stock associated with a second tranche of the equity financing that was originally announced on May 6, 2013. Upon closing the first tranche, the Company received gross proceeds of $1.2 million from the investors. The Company filed a proxy statement to seek stockholder approval to raise the remaining $1.2 million, which approval was obtained at the Company's annual meeting of stockholders held on June 27, 2013. As a result of this financing, the Company estimates that its cash and cash equivalent balances, together with cash proceeds from recent common stock warrant exercises, will be approximately $5.6 million as of June 30, 2013. 

Company Quote

0.03 +2.50%
26 Dec 2014