Navigation Links
WaferGen Bio-systems Announces New Funding from Private Placement
Date:8/27/2013

FREMONT, Calif., Aug. 27, 2013 /PRNewswire/ -- WaferGen Bio-systems, Inc. (OTCBB: WGBS) announced today that it has commenced a private placement to accredited investors of up to $17.25 million of units consisting of shares of common stock, shares of Series 1 convertible preferred stock and warrants to purchase shares of common stock.

At the initial closing of the offering on August 27, 2013, the Company sold $13,668,500 of units for net proceeds of approximately $12,300,000, which the Company intends to use for product development and sales initiatives and for working capital.

Each unit is being sold for $50,000 and consists of (i) either 25,000 shares of common stock or 9.9390 shares of Series 1 convertible preferred stock (each 9.9390 shares having a  liquidation preference of $0.01 and convertible into 25,000 shares of common stock), and (ii) warrants to purchase 12,500 shares of common stock.  At the initial closing, the Company issued a total of 5,209,250 shares of common stock, 646.0351 shares of Series 1 convertible preferred stock (convertible into a total of 1,625,000 shares of common stock) and warrants to purchase 3,417,129 shares of common stock.

The warrants have a term of five years and an exercise price of $2.60 per share.   Each share of Series 1 convertible preferred stock is convertible at any time into 2,515.34 shares of common stock and has a liquidation preference of $0.001, plus the amount of any declared but unpaid dividends.  The Series 1 convertible preferred stock does not have voting rights.

The Company engaged a placement agent to facilitate the offering.  The placement agent received a cash fee based on a percentage of the gross proceeds raised in the initial closing and warrants to purchase units equal to a percentage of the number of units issued.  For additional details regarding the offering and placement agent fees, please see the current report on Form 8-K to be filed by the Company on or about August 27, 2013.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities. The securities sold in this private offering have not yet been registered under the Securities Act of 1933, as amended, or any state securities laws.  Therefore, they may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and any applicable state securities laws.  The Company agreed as part of this offering to file a registration statement under the Securities Act for the resale of the common shares sold in the offering and the common shares underlying the warrants and Series 1 convertible preferred stock.

Forward Looking Statements
This press release contains certain "forward-looking statements."  Such statements include statements relating to the maximum offering amount and the use of proceeds from the offering  and other statements relating to future events that are not historical facts, including statements which may be preceded by the words "will," "believes" or similar words.  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.  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 year ended December 31, 2012.  Security holders are urged to read these documents free of charge on the SEC's web site at www.sec.gov.  The Company does not undertake to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

WaferGen Contact:
John Harland
john.harland@wafergen.com
510-780-2395


'/>"/>
SOURCE WaferGen Bio-systems, Inc.
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. WaferGen Bio-systems Launches MyDesign - Setting a New Standard in Flexibility with an Open Format High-Throughput qPCR Platform
2. WaferGen Launches SmartChip TE - A Novel Target Enrichment Solution for Next-Gen Sequencing (NGS) Aimed at Clinical Applications
3. Precision Optics Corporation Announces $1 Million Order for Microprecision™ Based Endoscopes
4. Young Innovations, Inc. Announces Record Sales and EPS for the Quarter Ended March 31, 2012
5. JDRF Announces Research Collaboration with Dexcom, Inc. to Develop "Smart Transmitter" Technology to Accelerate Artificial Pancreas Studies
6. Misonix Announces New Distribution Agreement For Panama
7. University of Maryland BioPark Announces MedImmunes Dr. Bahija Jallal as Newest Member of Board of Directors for UM Health Sciences Research Park
8. Novelos Therapeutics Announces Successful Completion of First Cohort In Lung Cancer Trial With I-124-CLR1404 (LIGHT) Cancer-Targeted PET Imaging Agent at UW Carbone Cancer Center
9. Boston Scientific Announces CE Mark and European Launch of Emerge™ PTCA Dilatation Catheter
10. Soligenix Announces Further Progress with ThermoVax™ for Long-Term Vaccine ThermoStability
11. Masimo Announces New Low-Profile Infant and Neonatal Pulse Oximetry Sensors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/4/2017)... 4, 2017 OBP Medical , ... medical devices, today announced regulatory approval from ... (or Agência Nacional de Vigilância Sanitária (ANVISA)) to ... surgical retractor with integrated LED light source and ... and exposure of a tissue pocket or cavity ...
(Date:10/2/2017)... , Oct. 2, 2017  Eli Lilly and ... financial results for the third quarter of 2017 on ... conference call on that day with the investment community ... The conference call will begin at 9 ... can access a live webcast of the conference call ...
(Date:10/2/2017)... announces the European launch of their new low volume, high throughput ... Cambridge, U.K on October 4th. The new ... unprecedented speed and sensitivity while using far less sample volume through ... ... ...
Breaking Medicine Technology:
(Date:10/13/2017)... IL (PRWEB) , ... October 13, 2017 , ... ... which established the certification process to promote standards of excellence for the field ... Symposium, scheduled for March 22 – 25, 2018 in Orlando, Florida at the ...
(Date:10/13/2017)... CT (PRWEB) , ... October 13, 2017 , ... ... long-term care services, staged a mock evacuation of the facility as part of a ... Shelton Fire Department, Echo Hose EMS and Shelton City Emergency Manager, as well as ...
(Date:10/13/2017)... NJ (PRWEB) , ... October 13, 2017 , ... Global ... at scenic Alexandria Park in Milford, NJ. This free event, sponsored by Global ... physical activity. The fun run is geared towards children of all ages; it ...
(Date:10/13/2017)... , ... October 13, 2017 , ... “The Journey: From ... every danger possible to save lost souls in the Philippines. “The Journey: From the ... is a dedicated teacher of the Bible. She has taught all ages and currently ...
(Date:10/12/2017)... ... October 12, 2017 , ... Planet Fitness, one of ... announced today its plans to open a flagship location in Covington, LA at 401 ... Rooms To Go store next to Office Depot in the Holiday Square shopping center. ...
Breaking Medicine News(10 mins):