Precipio Announces $1.2 Million Securities Purchase Agreement With Participation from Members of Its Board of Directors, and ...
December 04 2018 - 9:15AM
Specialty diagnostics company Precipio, Inc. (NASDAQ: PRPO),
announced today that it has entered into a $1.2 million Securities
Purchase Agreement with several existing investors, as well as two
members of its Board of Directors. The financing is expected to be
in two tranches, the first tranche of $600,000 expected to close
this week.
“We are encouraged by the endorsement of our investors, and in
particular the support of two members of our Board of Directors,
who have again demonstrated their support of the company as we
continue to grow the business, and refine our suite of products and
services for the cancer diagnostics market,” said Ilan Danieli, CEO
of Precipio. “This financing will allow us to further build on the
momentum we have achieved over the past year, and expand the
recognition we have received from a wide range of industry
stakeholders receptive to the potential advantages our technology
can bring to cancer care.”
Terms of the Agreement
On November 29, 2018, the Company entered into an agreement
which provides for the issuance of up to $1.2M in additional notes,
together with applicable warrants. The terms of this note are
substantially the same terms and conditions as the prior notes and
warrants granted in April 2018. The current notes and warrants were
subscribed for by the investors that previously participated in the
prior note, as well as new investors, including the two members of
the company’s Board of Directors.
Additional details can be found in the company’s 8-K filing by
clicking here.
About Precipio
Precipio has built a platform designed to eradicate the problem
of misdiagnosis by harnessing the intellect, expertise and
technology developed within academic institutions and delivering
quality diagnostic information to physicians and their patients
worldwide. Through its collaborations with world-class academic
institutions specializing in cancer research, diagnostics and
treatment such as the Yale School of Medicine and Harvard’s
Dana-Farber Cancer Institute, Precipio offers a new standard of
diagnostic accuracy enabling the highest level of patient care. For
more information, please visit www.precipiodx.com.
Forward-Looking Statements
Certain statements in this press release constitute
“forward-looking statements,” within the meaning of federal
securities laws, including statements related to ICP technology,
including financial projections related thereto and potential
market opportunity, plans and prospects and other statements
containing the words “anticipate,” “intend,” “may,” “plan,”
“predict,” “will,” “would,” “could,” “should,” and similar
expressions, constitute forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995.
The Company's actual results could differ materially from those
anticipated in these forward-looking statements as a result of
various factors. Factors that could cause future results to
materially differ from the recent results or those projected in
forward-looking statements include the known risks, uncertainties
and other factors described in the Company’s definitive proxy
statement filed on May 29, 2018, the Company’s Quarterly Report on
Form 10-Q for the quarter ended September 30, 2018 and on the
Annual Report on Form 10-K for the year ended December 31, 2017 as
well as the Company’s prior filings and from time to time in the
Company’s subsequent filings with the Securities and Exchange
Commission. Any change in such factors, risks and uncertainties may
cause the actual results, events and performance to differ
materially from those referred to in such statements. All
information in this press release is as of the date of the release
and the Company does not undertake any duty to update this
information, including any forward-looking statements, unless
required by law.
Inquiries:
investors@precipiodx.com
+1-203-787-7888
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