Vermillion is looking to raise $15 million in gross proceeds in separate but concurrent offerings of 10 million shares of its common stock and 50,000 shares of its Series B convertible preferred stock. Proceeds, which could reach $16.5 million if the 30-day overallotment option is exercised by the underwriter, will be used as working capital, as well as to support portfolio expansion, sales and marketing and other general corporate functions.
Offerings could pull in $15M for Vermillion
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