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Vermillion raises $43mm to come out of Chapter 11
30 Dec 2009
Executive Summary
Diagnostics company Vermillion grossed $43mm through the sale of 2.3mm common shares at $18.49 each (an 8% discount) to an undisclosed group of investors. The company will use the proceeds to repay debt, in particular a debtor-in-possession agreement with partner Quest Diagnostics, and hopes to restructure and emerge from its Chapter 11 bankruptcy filing in early 2010.
Deal Industry
- Biotechnology
- In Vitro Diagnostics
-
In Vitro Diagnostics
- Molecular Diagnostics & Genetic Testing
Deal Status
- Final
Deal Type
-
Financing
- Private Investment in Public Equity
- Private Placement
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Vermillion raises $43mm to come out of Chapter 11
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