HENDERSON, Nev., June 1, 2023
/PRNewswire/ -- VolitionRx Limited (NYSE AMERICAN: VNRX)
("Volition" or the "Company"), a multi-national epigenetics
company, announced today the pricing of an underwritten public
offering of 13,000,000 shares of its common stock at a public
offering price of $1.27 per share.
The gross proceeds to Volition from the offering, before deducting
underwriting commissions and other estimated offering expenses
payable by Volition, are expected to be $16.5 million. In addition, Volition has granted
the underwriters a 30-day option to purchase up to an
additional 1,950,000 shares of its common stock at the public
offering price, less underwriting discounts and commissions, to
cover over-allotments in connection with the offering. All of the
shares of common stock in the offering were offered by Volition.
The offering is expected to close on or about June 5, 2023, subject to the satisfaction of
customary closing conditions.
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.
Freedom Capital Markets is acting as the book-running manager of
the offering and Bancroft Capital is acting as co-manager.
The securities are being offered 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, as amended on November 4, 2021, and declared effective by the
SEC on November 8, 2021. The offering is being made only by
means of a prospectus supplement and an accompanying base
prospectus, as may be further supplemented by any free writing
prospectus and/or pricing supplement that the Company may file with
the SEC. A preliminary prospectus supplement and an accompanying
base prospectus describing the terms of the proposed offering have
been filed with the SEC and are available on the SEC's website at
www.sec.gov. The final prospectus supplement relating to the
offering will be filed with the SEC and will also be available on
the SEC's website. Copies of the preliminary prospectus supplement,
the final prospectus supplement and the accompanying base
prospectus relating to the offering can also be obtained, when
available, in writing from Freedom Capital Markets, 40 Wall
Street, 58th Floor, New York, NY
10005, or via email at EquitySyndicate@freedomcapmkts.com and
via telephone at (800) 786-1469.
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 powered by
Nu.Q®, its proprietary nucleosome quantification platform. Through
its subsidiaries, Volition is developing simple, easy to use, cost
effective blood tests to help diagnose and monitor a range of
life-altering diseases including certain 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—since changes in these parameters are an indication
that disease is present.
Volition's research, product development and manufacturing
activities are centered in Belgium, with innovation and U.S. operations
in California, and additional
offices in Nevada, 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
Edison Advisors
volitionrx@edisongroup.com
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 timing, size and expected gross proceeds of the
offering, the expected use of proceeds from the offering, the
satisfaction of customary closing conditions related to the
offering and sale of securities, the grant to the underwriters of
an option to purchase additional shares of common stock, and
Volition's ability to complete 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 preliminary prospectus supplement
filed with the SEC on May 31, 2023,
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 Annual Reports 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