Great Basin Scientific Prices $6 Million Public Offering of Units
May 26 2016 - 9:15AM
Business Wire
Great Basin Scientific, Inc. (NASDAQ:GBSN), a molecular
diagnostics company, today announced it has priced a public
offering of 3.16 million units at a public offering price of $1.90
per unit. The Company expects that the gross proceeds of the
offering of the units will be approximately $6 million. Each unit
will consist of one share of common stock and one Series G warrant.
Each Series G warrant will entitle the holder to acquire one share
of common stock at an exercise price of $1.90 per share, subject to
adjustment, for a period of five years following the date of
issuance.
Roth Capital Partners acted as the exclusive placement agent for
the offering. After the placement agent’s fees and estimated
offering expenses payable by the Company, the Company expects to
receive net proceeds from the sale of the units of approximately
$5.2 million. The offering is expected to close on or about June 1,
2016, subject to customary closing conditions. Great Basin intends
to use the proceeds from the offering to fund its research and
development, for sales and marketing expenses, to support the
manufacture of additional analyzers, to expand its manufacturing
capacity, and for general corporate purposes including working
capital.
The units, shares of common stock and Series G warrants are
being offered by Great Basin Scientific, Inc. pursuant to a
registration statement on Form S-1 (File No. 333-211334) previously
filed with and subsequently declared effective by the Securities
and Exchange Commission. A final prospectus relating to the
offering will be filed with the SEC and will be available on the
SEC’s website at http://www.sec.gov.
Copies of the preliminary prospectus relating to this offering
may be obtained from Roth Capital Partners, 888 San Clemente Drive,
Suite 400, Newport Beach, CA 92660, (800) 678-9147 or by accessing
the SEC’s website, http://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Great Basin Scientific
Great Basin Scientific is a molecular diagnostics company that
commercializes breakthrough chip-based technologies. The Company is
dedicated to the development of simple, yet powerful,
sample-to-result technology and products that provide fast,
multiple-pathogen diagnoses of infectious diseases. The Company’s
vision is to make molecular diagnostic testing so simple and
cost-effective that every patient will be tested for every serious
infection, reducing misdiagnoses and significantly limiting the
spread of infectious disease. More information can be found on the
company’s website at http://www.gbscience.com.
Safe Harbor / Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995
regarding the proposed public offering and the intended use of
proceeds from the offering. The offering is subject to market and
other conditions and there can be no assurance as to whether or
when the offering may be completed or as to the actual size or
terms of the offering. These forward-looking statements are subject
to risks and uncertainties that may cause actual results to differ
materially, including market conditions, risks associated with the
cash requirements of our business and other risks detailed from
time to time in our filings with the Securities and Exchange
Commission, and represent our views only as of the date they are
made and should not be relied upon as representing our views as of
any subsequent date. We do not assume any obligation to update any
forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20160526005740/en/
Media:ICRKate Ottavio Kent,
203-682-8276Kate.Ottavio-Kent@icrinc.comorInvestor
Relations:CorProminenceScott Gordon,
516-222-2560gbinfo@corprominence.comorICRDavid Clair,
646-277-1266David.Clair@icrinc.com