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This article was originally published in The Gray Sheet

Executive Summary

Private placement of 1.5 mil. common stock shares at $13 each with selected institutional and other accredited investors raises $19.5 mil. (1"The Gray Sheet" Nov. 29, p. 16). Of the shares offered, 900,000 were sold by the company and 600,000 by shareholders. Prudential Vector Healthcare Group served as placement agent for the offering. The Beltsville, Maryland maker of DNA and RNA testing systems says it plans to use the proceeds to further expand sales and marketing; increase R&D, including development of devices based on next-generation Hybrid Capture technology; expand of manufacturing capabilities; and for "working capital for other general corporate purposes"

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Digene

Private placement of 1.5 mil. common stock shares at $13 each to selected institutional and other accredited investors under definitive agreements is valued at $19.5 mil. The sale includes 900,000 shares to be sold by the company and 600,000 by selling shareholders. The Beltsville, Maryland maker of DNA and RNA testing systems says it plans to use the money to expand sales and marketing, manufacturing and R&D, and for studies of next generation Hybrid Capture technology-based products, working capital and "other general corporate purposes." Prudential Vector Healthcare Group served as placement agent for the financing

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