Navigation Links
WaferGen Closes on Private Financings of Approx. $6.2 Million

FREMONT, Calif., Sept. 10 /PRNewswire-FirstCall/ -- WaferGen Biosystems, Inc. (OTC Bulletin Board: WGBS), a leading developer of state-of-the-art gene expression and genotyping systems, announced that the company has closed a series of private placement offerings from June 16, 2009 through August 31, 2009. WaferGen issued shares of the company's common stock and warrants to certain accredited investors in private placement offerings for total gross proceeds of approximately $6.2 million. WaferGen issued 5,009,000 shares of common stock at a price of $1.25 per share, with 30 percent warrant coverage (warrants to purchase 1,502,700 shares of common stock) at an exercise price of $2.00 per whole share. The warrants have a five-year term and standard broad-based weighted-average anti-dilution protection. The Company retained Spencer Trask Ventures, Inc. as Selling Agent in connection with the private placement offerings.

Proceeds from the financing are being used for general corporate purposes including the continued advancement and commercialization of the company's SmartChip(TM) Real-Time PCR System.

"WaferGen is committed to building value for both our investors and partners through the advancement and commercialization of our SmartChip Real-Time PCR System," said Alnoor Shivji, WaferGen's chairman and chief executive officer. "We have made great progress in the past year and have gained clear support from leading industry and academic researchers. The proceeds from these financings will help strengthen our collaborations, accelerate ongoing product development, and speed our commercialization of the SmartChip Real-Time PCR System."

About WaferGen

WaferGen Biosystems, Inc. is a leader in the development, manufacture and sale of state-of-the-art systems for gene expression and genotyping for the life science and pharmaceutical industries. The company is actively developing its SmartChip(TM) product for the gene expression and genotyping markets. SmartChip(TM) is being developed as the first whole genome, high throughput gene expression real-time polymerase chain reaction (PCR) platform and promises to deliver significant speed and cost advantages to researchers in the gene expression and genotyping markets.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Such statements include statements that are not historical facts, including statements which may be preceded by the words "intends," "may," "will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or similar words. For such statements, the company claims the protection of the Private Securities Litigation Reform Act of 1995.

Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond the control of the company. Actual results may differ materially from the expectations contained in the forward-looking statements. Factors that may cause such differences include: (i) the risks that the company may be unsuccessful in commercially developing its products or in achieving market acceptance of new and relatively unproven technologies; (ii) the company will need to raise additional capital to meet its business requirements in the future and the company may not be able to do so on reasonable terms or at all; (iii) the company's proprietary intellectual property rights may not adequately protect its products and technologies; and (iv) the company expects intense competition in its target markets, including from companies that have much greater resources than the company, and there can be no assurance that the company will be able to compete effectively. More detailed information about the company and the risk factors that may affect the realization of forward-looking statements is set forth in the company's filings with the Securities and Exchange Commission, including the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2008, and subsequent Quarterly Reports on Form 10-Q. Investors and security holders are urged to read this document free of charge on the SEC's web site at The company does not undertake to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

    Mona Chadha

SOURCE WaferGen Biosystems, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. WaferGen to Present at the Acumen BioFin Rodman & Renshaw 9th Annual Healthcare Conference
2. WaferGen to Present at the Roth Capital Partners 20th Annual OC Growth Stock Conference
3. WaferGen Announces Management Team Promotions
4. WaferGen to Present at the Cambridge Health Institutes Fifth Annual Molecular Diagnostics Partnerships in Personalized Medicine Conference
5. WaferGen Signs Exclusive Distribution Agreement for SmartSlide(TM) Micro-Incubation System in United Kingdom and France
6. WaferGen Signs Exclusive Distribution Agreement for SmartSlide(TM) Micro-Incubation System in Germany
7. WaferGen to Present at the Rodman and Renshaw Fifth Annual Global Healthcare Conference
8. WaferGen Announces Signing of Two Private Placements
9. WaferGen to Present at the Ninth Annual Beyond Genome Conference
10. WaferGen Announces Second Quarter 2008 Financial Results
11. WaferGen to Present at the Seventh Annual BIO Investor Forum
Post Your Comments:
(Date:11/25/2015)... LOS ANGELES and HOLLISTON, Mass. ... Regenerative Technology, Inc. (Nasdaq: HART ), a biotechnology ... announced that CEO Jim McGorry will present ... Tuesday, December 1, 2015 at 2:30 p.m. PT. The ... (link below) for 30 days. Management will also be ...
(Date:11/25/2015)... DIEGO , Nov. 25, 2015 Orexigen® ... management will participate in a fireside chat discussion at ... New York . The discussion is scheduled ... .  A replay will be ... Media Contact:McDavid Stilwell  , Julie NormartVP, Corporate Communications ...
(Date:11/24/2015)... ... November 24, 2015 , ... The United States Golf Association (USGA) today announced ... Section Award. Presented annually since 1961, the USGA Green Section Award recognizes an individual’s ... , Clarke, of Iselin, N.J., is an extension specialist of turfgrass pathology ...
(Date:11/24/2015)... ... November 24, 2015 , ... Copper is an ... is bound to proteins, copper is also toxic to cells. With a $1.3 ... Institute (WPI) will conduct a systematic study of copper in the bacteria Pseudomonas ...
Breaking Biology Technology:
(Date:11/20/2015)... 20, 2015 NXTD ) ("NXT-ID" ... the growing mobile commerce market and creator of the ... , was recently interviewed on The RedChip Money ... this weekend on Bloomberg Europe , Bloomberg Asia, ... --> NXTD ) ("NXT-ID" or the "Company"), a ...
(Date:11/19/2015)... Nov. 19, 2015  Based on its in-depth analysis ... recognizes BIO-key with the 2015 Global Frost & Sullivan ... & Sullivan presents this award to the company that ... the needs of the market it serves. The award ... and expands on customer base demands, the overall impact ...
(Date:11/19/2015)... 2015  Although some 350 companies are actively involved ... few companies, according to Kalorama Information. These include Roche Diagnostics, ... market share of the 6.1 billion-dollar molecular testing market, ... for Molecular Diagnostic s .    ... controlled by one company and only a handful of ...
Breaking Biology News(10 mins):