Cancer Genetics, Inc. Announces Proposed Public Offering of Common Stock
January 28 2019 - 4:00PM
Cancer Genetics, Inc. (Nasdaq: CGIX), a leader in enabling
precision medicine for immuno-oncology and genomic medicine through
molecular markers and diagnostics, today announced that it intends
to offer and sell, subject to market and other conditions, shares
of its common stock in a public 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.
H.C. Wainwright & Co. is acting as the
exclusive placement agent for the offering. The offering is
being conducted as a “best efforts” offering and the placement
agent is not obligated to purchase any securities.
Cancer Genetics intends to use the net proceeds from this
offering to pay any amounts we are required to pay to our lenders,
and if any proceeds remain available, to pay certain costs
previously incurred by us in connection with our strategic
initiatives and to fund working capital and other general corporate
purposes.
A shelf registration statement on Form S-3
relating to the public offering of the shares of common stock
described above was filed with the Securities and Exchange
Commission (“SEC”) and was declared effective on June 5, 2017. A
preliminary prospectus supplement describing the terms of the
offering will be filed with the SEC and will form a part of the
effective registration statement. Copies of the preliminary
prospectus supplement and the accompanying prospectus relating to
the offering may be obtained, when available, from H.C. Wainwright
& Co., LLC, 430 Park Avenue 3rd Floor, New York, NY 10022, or
by calling (646) 975-6996 or by emailing
placements@hcwco.com or at the SEC’s website at
http://www.sec.gov. The final terms of the offering will be
disclosed in a final prospectus supplement to be filed with the
SEC.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, 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. Any offer, if at all, will be made only by
means of the prospectus supplement and accompanying prospectus
forming a part of the effective registration statement.
About Cancer Genetics,
Inc.Cancer Genetics, Inc. is a leader in enabling
precision medicine in oncology through the use of biomarkers and
molecular testing. Cancer Genetics is developing a global footprint
with locations in the US and Australia. We have established strong
clinical research collaborations with major cancer centers such as
Memorial Sloan Kettering, The Cleveland Clinic, Mayo Clinic, Keck
School of Medicine at USC and the National Cancer Institute.
The Company offers a comprehensive range of
laboratory services that provide critical genomic and biomarker
information. Its state-of-the-art reference labs are CLIA-certified
and CAP-accredited in the US and have licensure from several
states, including New York State.
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. All statements pertaining to Cancer Genetics,
Inc.’s expectations regarding future financial and/or operating
results, the proposed offering of Cancer Genetics, Inc.’s shares of
common stock, including as to the consummation of the offering
described above, the size of the offering and the use of net
proceeds therefrom, potential for our tests and services and future
revenues or growth in this press release constitute forward-looking
statements.
Any statements that are not historical fact
(including, but not limited to, statements that contain words such
as “will,” “believes,” “plans,” “anticipates,” “expects,”
“estimates”) should also be considered to be forward-looking
statements. Forward-looking statements involve risks and
uncertainties, including, without limitation, risks with respect to
our ability to complete a strategic transaction, risks with respect
to our need and ability to obtain future capital to satisfy our
obligations to our lenders and creditors, risks inherent in the
development and/or commercialization of potential tests, risks of
cancellation of customer contracts or discontinuance of trials,
risks that anticipated benefits from consolidation efforts and/or
acquisitions will not be realized, uncertainty in the results of
clinical trials or regulatory approvals, uncertainties with respect
to evaluating strategic options, maintenance of intellectual
property rights, risks with respect to maintaining our listing on
Nasdaq, and other risks discussed in the Cancer Genetics, Inc. Form
10-K for the year ended December 31, 2017 and Form 10-Q for the
quarter ended September 30, 2018, along with other filings with the
Securities and Exchange Commission. These forward-looking
statements speak only as of the date hereof. Cancer Genetics, Inc.
disclaims any obligation to update these forward-looking
statements.
Investor Contacts:Lee Roth /
Carol Ruth The Ruth GroupTel: 646-536-7012 / 7004Email:
lroth@theruthgroup.com / cruth@theruthgroup.com
Media Contact:Kirsten ThomasThe
Ruth GroupTel: 508-280-6592Email: kthomas@theruthgroup.com
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