Rosetta Genomics Ltd. Announces Closing Of Public Offering Of 5.5 Million Ordinary Shares
Rosetta Genomics Ltd. announced the closing of an underwritten public offering of 5,500,000 ordinary shares at an offering price of $5.00 per share. The gross proceeds to Rosetta were $27.5 million, before deducting underwriting discounts and commissions and other offering expenses payable by Rosetta. In addition, Rosetta has granted the underwriter a 45-day option to purchase up to 825,000 additional ordinary shares to cover over-allotments, if any. Rosetta plans to use the net proceeds from the offering primarily to fund its operations and for other general corporate purposes, including, but not limited to, repayment or refinancing of future indebtedness or other corporate borrowings, working capital, intellectual property protection and enforcement, capital expenditures, investments, acquisitions or collaborations, research and development and product development. Aegis Capital Corp. acted as the sole book-running manager for the offering.