SAN DIEGO, Dec. 6, 2017 /PRNewswire/ -- Biocept, Inc.
(NASDAQ: BIOC) ("Biocept" or the "Company"), a leading commercial
provider of liquid biopsy tests designed to provide physicians with
clinically actionable information to improve the outcomes of cancer
patients, today announced that it has priced a best efforts
registered public offering of up to an aggregate of 4,925,936
shares of the Company's common stock at a price to the public of
$0.68 per share, which was the
closing price of the Company's common stock on The NASDAQ Capital
Market on December 4, 2017. No
warrants to purchase shares of the Company's common stock will be
issued to the investors in connection with the offering.
The offering is expected to close on or about December 7, 2017, subject to satisfaction of
customary closing conditions. Net proceeds of the offering, after
placement and other fees and estimated expenses payable by Biocept
are expected to be approximately $3.0
million. Biocept intends to use the proceeds for working
capital and general corporate purposes.
Dawson James Securities, Inc. and WestPark Capital, Inc. acted
as placement agents in connection with the offering, with Dawson
James Securities, Inc. acting as the lead placement agent. In
connection with the offering, the Company has agreed to issue
Dawson James Securities, Inc. a warrant, exercisable beginning in
six months, to purchase 246,296 shares of the Company's common
stock with an exercise price equal to $0.85 per share.
The shares of common stock are being offered pursuant to a shelf
registration statement on Form S-3 (File No. 333-204138), which was
declared effective by the United States Securities and Exchange
Commission ("SEC") on May 21, 2015.
The securities may be offered only by means of a prospectus.
A final prospectus supplement related to the offering will be filed
with the SEC, and will be available at the SEC's website at
www.sec.gov or from Dawson James Securities, Inc. Attention:
Prospectus Department, 1 North Federal Highway, 5th
Floor, Boca Raton, FL 33432.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy, nor will there be any sales of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such jurisdiction.
About Biocept
Biocept, Inc. is a molecular diagnostics company with
commercialized assays for lung, breast, gastric, colorectal and
prostate cancers, and melanoma. The Company leverages its
proprietary liquid biopsy technology to provide physicians with
clinically actionable information for treating and monitoring
patients diagnosed with cancer. Biocept's patented Target
Selector™ liquid biopsy technology platform captures and analyzes
tumor-associated molecular markers in both circulating tumor cells
(CTCs) and in circulating tumor DNA (ctDNA). With thousands of
tests performed, the platform has demonstrated the ability to
identify cancer mutations and alterations to inform physicians
about a patient's disease and therapeutic options. For additional
information, please visit www.biocept.com.
Forward-Looking Statements Disclaimer Statement
This release contains forward-looking statements that are based
upon current expectations or beliefs, as well as a number of
assumptions about future events. Although we believe that the
expectations reflected in the forward-looking statements and the
assumptions upon which they are based are reasonable, we can give
no assurance that such expectations and assumptions will prove to
have been correct. Forward-looking statements are generally
identifiable by the use of words like "may," "will," "should,"
"could," "expect," "anticipate," "estimate," "believe," "intend,"
or "project" or the negative of these words or other variations on
these words or comparable terminology. To the extent that
statements in this release are not strictly historical, including
without limitation statements as to our ability to close the
offering, the net proceeds from the offering, and our intended use
of the proceeds from the offering, such statements are
forward-looking, and are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
The reader is cautioned not to put undue reliance on these
forward-looking statements, as these statements are subject to
numerous risk factors as set forth in our SEC filings. The effects
of such risks and uncertainties could cause actual results to
differ materially from the forward-looking statements contained in
this release. We do not plan to update any such forward-looking
statements and expressly disclaim any duty to update the
information contained in this press release except as required by
law. Readers are advised to review our filings with the SEC, which
can be accessed over the Internet at the SEC's website located at
www.sec.gov.
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SOURCE Biocept, Inc.