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Each ordinary share is being sold together with one short-term warrant at a combined price of $1.35 per common share and accompanying warrant.
The short-term warrants will have a term of two and one-half years following the date of issuance, with an exercise price of $1.50 per ordinary share.
Full exercise of the warrants would generate additional gross proceeds of approximately $38.9 million.
The offering will close by July 2.
The offer price is at a 10.6% discount on the last close price of $1.51 on Tuesday.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
Proceeds will be used to advance the ongoing clinical development of C-Scan, a preparation-free screening test to detect polyps for colorectal cancer diagnosis.
In March, the FDA signed off a pivotal study of C-Scan to evaluate the safety and performance of C-Scan as well as subject compliance with C-Scan.
Price Action: CHEK shares are down 21.9% at $1.18 during the market session on the last check Wednesday.
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