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Cancer Genetics enters $16mm financing commitment concurrent with vivoPharm buy; gets $3mm up front

Executive Summary

Molecular diagnostics firm Cancer Genetics Inc. entered a financing agreement with Aspire Capital, through which Aspire will purchase, over the next two years, up to $16mm of CGI's common stock. Aspire committed to an immediate tranche of $3mm (1mm shares at $3; a 17% discount), and future tranches will be completed at CGI's discretion. The funding will support CGI's concurrent $12mm purchase of Australian CRO vivoPharm Pty. Ltd.
Deal Industry
  • Biotechnology
  • In Vitro Diagnostics
    • Molecular Diagnostics & Genetic Testing
  • Laboratory Testing Services
    • Esoteric Laboratories
Deal Status
  • Final
Deal Type
  • Financing
    • Private Investment in Public Biotech
    • Private Placement

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