Great Basin Scientific prices $6 Million public offering of units

Great Basin Scientific, a molecular diagnostics company, announced it has priced a public offering of 3.16 million units at a public offering price of $1.90 per unit.

The Company expects that the gross proceeds of the offering of the units will be approximately $6 million. Each unit will consist of one share of common stock and one Series G warrant. Each Series G warrant will entitle the holder to acquire one share of common stock at an exercise price of $1.90 per share, subject to adjustment, for a period of five years following the date of issuance.

Roth Capital Partners acted as the exclusive placement agent for the offering. After the placement agent’s fees and estimated offering expenses payable by the Company, the Company expects to receive net proceeds from the sale of the units of approximately $5.2 million. The offering is expected to close on or about June 1, 2016, subject to customary closing conditions. Great Basin intends to use the proceeds from the offering to fund its research and development, for sales and marketing expenses, to support the manufacture of additional analyzers, to expand its manufacturing capacity, and for general corporate purposes including working capital.

About Great Basin Scientific
Great Basin Scientific is a molecular diagnostics company that commercializes breakthrough chip-based technologies. The Company is dedicated to the development of simple, yet powerful, sample-to-result technology and products that provide fast, multiple-pathogen diagnoses of infectious diseases. The Company’s vision is to make molecular diagnostic testing so simple and cost-effective that every patient will be tested for every serious infection, reducing misdiagnoses and significantly limiting the spread of infectious disease.