Date: Dec 20, 2013 Source: Company Data (
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IRVINE, Calif., Dec. 20, 2013 (GLOBE NEWSWIRE) -- CombiMatrix Corporation (Nasdaq:CBMX), a molecular diagnostics company specializing in DNA-based testing services for developmental disorders and cancer diagnostics, today announced that it has closed its previously announced firm commitment underwritten public offering of 12,000 units of Series D convertible preferred stock and warrants at a price to the public of $1,000 per unit for gross proceeds of $12 million, prior to deducting underwriting discounts and commissions and offering expenses payable by the Company. Each unit consists of one share of Series D convertible preferred stock, which is convertible into 485.4369 shares of common stock at a conversion price of $2.06 per share, and one warrant to purchase 485.4369 shares of common stock at an exercise price of $3.12 per share. The net proceeds from the sale of the units, after deducting underwriting discounts and commissions and offering expenses payable by the Company, are anticipated to be approximately $10.8 million.
Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc. (NYSEMKT:LTS), served as the sole underwriter on the transaction.
This offering shall be made only by means of a prospectus. Copies of the final prospectus relating to this offering may be obtained at the SEC's website at http://www.sec.gov or by request at Ladenburg Thalmann & Co. Inc., 4400 Biscayne Blvd., 14th Floor, Miami, Florida 33137.
In connection with this offering, the Company has filed a registration statement on Form S-1 that was declared effective by the SEC on December 16, 2013. 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.