other material
confidence high
sentiment neutral
materiality 0.60
Oncocyte raises ~$13.5M in offering of 45.5M shares at $0.302-$0.354
Insight Molecular Diagnostics Inc.
- Net proceeds of ~$13.5M after $250K advisory fee and other expenses.
- ~$1.1M used to redeem Series A Preferred stock; remainder for working capital and product commercialization.
- Broadwood Partners (largest shareholder) and board members participated as insiders at $0.35440 per share.
- Offering conducted as takedown from existing S-3 shelf registration statement declared effective June 2021.
- Company intends to use funds to support VitaGraft, DetermaIO, and DetermaCNI development.