Biocept raises $5 million in public offering

April 29, 2016 – SAN DIEGO.  Biocept, Inc. today announced that it has priced a registered public offering of an aggregate of approximately 5.0 million shares of common stock at a price to the public of $1.00 per share. Investors will also receive warrants to purchase up to an aggregate of approximately 3.5 million shares of common stock with an exercise price of $1.30 per share.  The warrants are immediately exercisable and have a term of five years. The offering is expected to close on or about May 4, 2016, subject to satisfaction of customary closing conditions.

H.C. Wainwright & Co. acted as exclusive placement agent for the offering, and ROTH Capital Partners, LLC provided advisory services in connection with the offering. 

The total gross proceeds of the offering are expected to be approximately $5.0 million. After deducting the placement agent’s commission and other estimated offering expenses payable by Biocept, the net proceeds to Biocept are expected to be approximately $4.4 million.  Biocept intends to use the net proceeds from the offering for working capital and general corporate purposes.

Biocept is a molecular diagnostics company with commercial tests targeting lung, breast, gastric, colorectal and prostate cancers and melanoma.  The company uses its proprietary liquid biopsy technology to provide physicians with more precise information for treating and monitoring patients with cancer.  The company’s patented Target Selector™ liquid biopsy technology platform captures and analyzes circulating tumor DNA in both circulating tumor cells (CTCs) and in plasma (ctDNA).  For additional information, please visit www.biocept.com.

SOURCE Biocept, Inc.