Rosetta Genomics says its recently closed public offering
brought $27.5 million in gross proceeds. The manufacturer of microRNA molecular diagnostics offered 5,500,000 ordinary shares at a price of $5 per share. The dollar amount does not include deductions for discounts and commissions for Aegis Capital Corp., the sole underwriter of the offering. Aegis has a 45-day option to purchase up to 825,000 in additional ordinary shares to cover over-allotments, according to Rosetta.
The net proceeds will be used as operating funds and for other general business uses, says Rosetta, which is based in Rehovot, Israel. The additional general expenditures will cover future debt payments, working capital, IP protection, product development, and other operations. Rosetta distributes its miRview diagnostics products through the company’s Philadelphia-based CLIA-certified lab.