Progenity Announces Closing of $40 Million Underwritten Public Offering
Biora Therapeutics, Inc. (PROG)
Company Research
Source: GlobeNewswire
SAN DIEGO, Aug. 24, 2021 (GLOBE NEWSWIRE) -- Progenity, Inc. (“Progenity”) (Nasdaq: PROG), an innovative biotechnology company, today announced the closing of its previously announced underwritten public offering of 40,000,000 shares of its common stock and warrants to purchase up to 40,000,000 shares of its common stock, at a public offering price of $1.00 per share and associated warrant. H.C. Wainwright & Co. acted as the sole book-running manager for the offering. The warrants have an exercise price of $1.00 per share, are exercisable immediately, and will expire five years following the date of issuance. In addition, Progenity has granted the underwriter a 30-day option to purchase up to an additional 6,000,000 shares of its common stock and/or accompanying warrants to purchase an aggregate of up to 6,000,000 shares of its common stock, which the underwriter has partially exercised for warrants to purchase an aggregate of 1,932,000 shares of common stock. At closing, Progeni
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