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Clarient sells up to $50mm in preferred shares

Executive Summary

Cancer diagnostics company Clarient has sold 3.8mm Series A preferred shares to Oak Investment Partners for gross proceeds of $29.1mm. Each share is convertible into four common shares at any time and after one year will automatically convert if the company's stock trades over $4.75 for 20 consecutive days in a 30-day trading period. After four years the shares may be redeemed for $7.60 apiece.
Deal Industry
  • Biotechnology
  • In Vitro Diagnostics
  • Pharmaceuticals
  • In Vitro Diagnostics
    • Cytology
    • Molecular Diagnostics & Genetic Testing
Deal Status
  • Final
Deal Type
  • Financing
    • Other
    • Private Placement

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