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Hold (2.00 out of 4)
100th percentile
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 Preferred Stock Offerings
By Preferred Stock Channel Staff, updated Friday, April 19, 12:36 AM
Slide #199. Vermillion, Inc. — Preferred Stock Offering
| Company: |
Vermillion, Inc. (VRML) |
| Date announced: |
4/12/2018 |
| Shares Offered: |
50,000 |
| Date of Pricing: |
4/13/2018 |
| Price Per Share: |
$100.00 |
| Preferred Stock Offering Details: |
Vermillion, Inc. (Nasdaq:VRML), a bio-analytical solutions company focused on gynecologic disease, today announced that it intends to offer shares of its common stock and convertible preferred stock in concurrent but separate underwritten public offerings. The convertible preferred stock is non-voting and convertible into shares of Vermillion, Inc. common stock automatically upon receipt of stockholder approval of the conversion. The offerings are subject to market and other conditions, and there can be no assurance as to whether or when the offerings may be completed, or as to the actual size or terms of the offerings. As part of the common stock offering, Vermillion, Inc. is expected to grant the underwriter a 30-day option to purchase up to an additional 15% of the shares of common stock being offered at the public offering price, less underwriting discounts and commissions, to cover over-allotments, if any. The offerings are being conducted as separate public offerings by means of separate prospectus supplements, and neither offering is contingent upon the consummation of the other. All of the shares will be offered by Vermillion, Inc. -updated 4/13- Vermillion, Inc. (Nasdaq:VRML), a bio-analytical solutions company focused on gynecologic disease, today announced the pricing of the previously announced concurrent but separate underwritten public offerings of 10,000,000 shares of its common stock at a price to the public of $1.00 per share and 50,000 shares of its Series B Convertible Preferred Stock at a price to the public of $100.00 per share. Each share of Series B Convertible Preferred Stock is non-voting and convertible into 100 shares of Vermillion, Inc. common stock, based on an initial conversion price of $1.00 per share, automatically upon receipt of stockholder approval of the conversion. As part of the common stock offering, Vermillion, Inc. has granted the underwriter a 30-day option to purchase up to an additional 1,500,000 shares of common stock at the public offering price, less underwriting discounts and commissions, to cover over-allotments, if any. The offerings are being conducted as separate public offerings by means of separate prospectus supplements, and neither offering is contingent upon the consummation of the other. All of the shares are being offered by Vermillion, Inc. The offering is expected to close on April 17, 2018, subject to customary closing conditions. |
Vermillion is engaged in the discovery, development and commercialization of diagnostic and bio-analytical solutions that help physicians diagnose, treat and improve outcomes for women. Co. concentrates its development of diagnostic tests for gynecologic disease, with an initial focus on ovarian cancer. Co.'s primary product, OVA1, is a blood test designed to, in addition to a physician's clinical assessment of a woman with a pelvic mass, identify women who are at high risk of having a malignant ovarian tumor prior to planned surgery. Co.'s ASPiRA LABS engages in applying biomarker-based technologies to address needs in the management of gynecologic cancers and disease.
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