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Offerings could pull in $15M for Vermillion

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.

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