VolitionRx Prices Public Offering Of $7.525 Mln Of Shares At $1.75/shr

(RTTNews) - VolitionRx Limited (VNRX), a maker of epigenetic cancer detection blood tests, said on Friday that it has priced the public offering of 4.3 million shares at $1.75 per share, for gross proceeds of $7.525 million.

"Volition intends to use the net proceeds from the offering for research and continued product development, clinical studies, product commercialization, working capital and other general corporate purposes, including potential strategic acquisitions," the company said in a statement.

The company has granted the underwriter a 30-day option to purchase up to an additional 645,000 shares at the public offering price.

The offering is expected to be closed on or about February 22.

Newbridge Securities Corporation is serving as the sole book-running manager of the offering.