HENDERSON, Nev., Aug. 2, 2022
/PRNewswire/ -- VolitionRx Limited (NYSE AMERICAN: VNRX)
("Volition"), a multi-national epigenetics company, announced today
the closing of its previously announced underwritten public
offering of 3,450,000 shares of its common stock, including the
exercise in full of the underwriter's overallotment option, at a
public offering price of $2.00 per
share. The gross proceeds to Volition from the offering were
$6.9 million, before deducting the
underwriting commissions and other estimated offering expenses
payable by Volition. All of the shares of common stock sold in
the offering were offered by Volition.
Volition intends to use the net proceeds from the offering for
research and continued product development, clinical studies,
product commercialization, working capital and other general
corporate purposes, including potential strategic acquisitions.
Newbridge Securities Corporation acted as the sole book-running
manager of the offering.
The securities were issued by Volition pursuant to a "shelf"
registration statement on Form S-3 (File No. 333-259783) previously
filed with the Securities and Exchange Commission (the "SEC") on
September 24, 2021 and declared effective by the SEC on
November 8, 2021. A final prospectus supplement and an
accompanying base prospectus relating to the offering were filed
with the SEC on August 1, 2022 and
are available on the SEC's website at www.sec.gov. Copies of
the final prospectus supplement and the accompanying base
prospectus relating to the offering can also be obtained
from Newbridge Securities Corporation, Attn: Equity Syndicate
Department, 1200 North Federal Highway, Suite 400, Boca Raton, FL 33432, by email at
syndicate@newbridgesecurities.com, or by telephone at (877)
447-9625.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About Volition
Volition is a multi-national epigenetics company that applies
its Nucleosomics™ platform through its subsidiaries to develop
simple, easy-to-use, cost-effective blood tests to help diagnose
and monitor a range of life-altering diseases, including some
cancers and diseases associated with NETosis such as sepsis and
COVID-19. Early diagnosis and monitoring have the potential to not
only prolong the life of patients but also improve their quality of
life. The tests are based on the science of Nucleosomics™, which is
the practice of identifying and measuring nucleosomes in the
bloodstream or other bodily fluid—an indication that disease is
present. Volition is primarily focused on human diagnostics and
monitoring, but also has a subsidiary focused on animal diagnostics
and monitoring.
Volition's research and development activities are centered in
Belgium, with an innovation
laboratory and an office in the U.S. and additional offices in
London and Singapore.
Media
Louise
Batchelor/Debra Daglish,
Volition
mediarelations@volition.com
+44 (0)7557 774620
Investors
Scott Powell,
Volition
investorrelations@volition.com
+1 (646) 650 1351
Joseph Green, Edison Advisors
jgreen@edisongroup.com
+1 (646) 653 7030
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release may be "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, that concern matters that involve risks and
uncertainties that could cause actual results to differ materially
from those anticipated or projected in the forward-looking
statements. These forward-looking statements reflect the current
beliefs and expectations of management and include statements
regarding the public offering, including the expected use of
proceeds from the offering. All statements other than statements of
historical fact are statements that could be deemed forward-looking
statements. Although Volition believes that the expectations
reflected in such forward-looking statements are reasonable, it can
give no assurance that such expectations will prove to be correct.
Forward-looking statements are subject to risks and uncertainties
that may cause Volition's actual activities or results to differ
materially from those indicated or implied by any forward-looking
statement, including, without limitation, due to risks and
uncertainties related to market conditions and the satisfaction of
closing conditions related to the proposed public offering, risks
disclosed in the section titled "Risk Factors" included in the
final prospectus supplement filed with the SEC on August 1,
2022, and risks disclosed in other documents Volition files from
time to time with the SEC, including Volition's Quarterly Reports
on Form 10-Q and its Annual Report on Form 10-K.
Forward-looking statements are made as of the date of this
release, and, except as required by law, Volition does not
undertake an obligation to update its forward-looking statements to
reflect future events or circumstances.
Nucleosomics™ and Nu.Q® and their respective logos are
trademarks and/or service marks of VolitionRx Limited and its
subsidiaries.
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SOURCE VolitionRx Limited