Interpace Biosciences Enters into Agreement for $20 Million Investment from 1315 Capital and Ampersand Capital Partners
INTERPACE BIOSCIENCES INC (IDXG)
Last interpace biosciences inc earnings: 11/13 04:40 pm
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Source: GlobeNewswire
Reverse Stock Split Planned Concurrent with Closing Investment expected to support achieving cash flow break-even and accelerate Interpace’s growth plans and acquisition strategy Parsippany, NJ, Jan. 13, 2020 (GLOBE NEWSWIRE) -- Interpace Biosciences, Inc. (Nasdaq: IDXG) (“Interpace” or the “Company”), a leader in leveraging molecular diagnostics and other platforms for the benefit of patients and supporting pharmaceutical development, today announced that it has entered into an agreement for a new Series B Preferred Stock investment of $20 million, consisting of $19 million from 1315 Capital and an additional $1 million from Ampersand Capital Partners (“Ampersand”), an existing investor in the Company. 1315 Capital and Ampersand are two leading private equity firms investing in laboratory services. The new Series B Preferred Stock investment will be convertible into common stock at a conversion price of $0.60 (prior to the reverse stock split). In addition, Ampersand will
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