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TrovaGene, Inc. Announces Pricing of Public Offering of 1,150,000 Units and Listing on NASDAQ


Tuesday, 29 May 2012 08:50pm EDT 

TrovaGene, Inc. announced the pricing of an underwritten public offering of 1,150,000 units at an offering price of $8.00 per unit, with each unit consisting of two shares of common stock and one warrant to purchase one share of common stock. The units will begin trading on The NASDAQ Capital Market on May 30, 2012 under the symbol TROVU. Each warrant will have an exercise price of $5.32 per share, will be exercisable upon separation of the units and will expire five years from the closing of the offering. The gross proceeds to Trovagene from this offering are expected to be $9.2 million, before deducting underwriting discounts and commissions and other estimated offering expenses. The offering is expected to close on June 4, 2012. Trovagene has also granted the underwriters a 45-day option to purchase up to an additional 172,500 units to cover over-allotments, if any. Trovagene intends to use the net proceeds from this offering to fund its research and development activities, and for working capital and other general corporate purposes and possibly acquisitions of other companies, products or technologies, though no such acquisitions are currently contemplated. Trovagene also announced that, effective as of May 30, 2012, its common stock will begin trading on The NASDAQ Capital Market under the symbol "TROVD." In connection with its listing on The NASDAQ Capital Market, Trovagene's common stock will cease trading on the OTC QB. 

Company Quote

5.04
-0.12 -2.33%
23 Apr 2014