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Visible Genetics

This article was originally published in The Gray Sheet

Executive Summary

Firm will use a portion of a $7 mil. debt financing with private and institutional investors to expand international sales and marketing operations, the company reports. Remaining funds are earmarked for research and development and general capital expenditures. Investors also receive 420,000 warrants to purchase at $10 per share an equivalent number of VGI common shares through April 29, 2003. VGI has sold for clinical research use since the third quarter 1996 the OpenGene high-throughput automated clinical DNA sequencing system
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