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Vermillion raises $43mm to come out of Chapter 11

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
    • Molecular Diagnostics & Genetic Testing
Deal Status
  • Final
Deal Type
  • Financing
    • Private Investment in Public Biotech
    • Private Placement

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