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HTG Molecular Diagnostics Announces Completion of $22.5 Million Aggregate Financing, Consisting of $19.0 Million Public Offering of Common Stock, Including the Exercise in Full of the Underwriter’s Option to Purchase Additional Shares, and $3.5 Million Concurrent Private Placement

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TUCSON, Ariz., Sept. 24, 2019 (GLOBE NEWSWIRE) -- HTG Molecular Diagnostics, Inc. (HTGM) (HTG), a diagnostic company whose mission is to advance precision medicine, today announced the completion of its previously announced underwritten public offering of 29,298,537 shares of its common stock at a price to the public of $0.65 per share, including 3,821,548 shares sold pursuant to the exercise in full of the underwriter’s option to purchase additional shares. All of the shares in the offering were sold by HTG. The aggregate gross proceeds from the public offering are approximately $19.0 million, before deducting the underwriting discounts and commissions and offering expenses. Concurrently with the completion of the underwritten public offering, HTG completed its previously announced sale of 5,411,687 pre-funded warrants exercisable for an aggregate of 5,411,687 shares of common stock, at a purchase price of $0.64 per pre-funded warrant, to certain institutional accredited investors in a private placement. Each pre-funded warrant is immediately exercisable upon issuance, subject to beneficial ownership limitations, and has an exercise price of $0.01 per share. The gross proceeds from the private placement are approximately $3.5 million, before deducting fees and offering expenses.

Cantor Fitzgerald & Co. acted as the sole book-running manager for the public offering.

The shares of common stock offered by HTG in the public offering as described above were offered pursuant to a shelf registration statement filed by HTG with the Securities and Exchange Commission (SEC) that was declared effective on February 11, 2019. A final prospectus supplement related to the public offering has been filed with the SEC and is available on the SEC’s website located at http://www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus related to this public offering may be obtained from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Ave., 6th Floor, New York, New York 10022, or by email at prospectus@cantor.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

About HTG:

HTG is focused on NGS-based molecular profiling. The company’s proprietary HTG EdgeSeq technology automates complex, highly multiplexed molecular profiling from solid and liquid samples, even when limited in amount. HTG’s customers use its technology to identify biomarkers important for precision medicine, to understand the clinical relevance of these discoveries, and ultimately to identify treatment options. The company’s mission is to empower precision medicine.


Shaun McMeans
Senior Vice President and Chief Financial Officer
HTG Molecular Diagnostics, Inc.
Phone: (877) 289-2615
Email: smcmeans@htgmolecular.com