On May 22, 2020 VolitionRx Limited (NYSE AMERICAN: VNRX) ("Volition"), a multi-national epigenetics company that applies its NucleosomicsTM platform through its subsidiaries to develop simple, easy to use, cost-effective blood tests to help diagnose a range of cancers and other diseases, reported the closing of its previously announced underwritten public offering of an aggregate of 5,019,750 shares of common stock, including the exercise in full of the overallotment option, at a public offering price of $2.75 per share for total gross proceeds of $13.8 million, before deducting underwriting discounts, commissions and estimated offering expenses payable by Volition (Press release, VolitionRX, MAY 22, 2020, View Source [SID1234558421]). All of the shares of common stock sold in the offering were offered by Volition.
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National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation (NASDAQ: NHLD), acted as sole book-running manager in connection with the offering. The Benchmark Company, LLC and Maxim Group LLC acted as financial advisors in the offering.
Volition intends to use the net proceeds of the offering for continued product development, clinical studies, product commercialization, working capital, and other general corporate purposes, including potential strategic acquisitions.
The securities described above were issued by Volition pursuant to a "shelf" registration statement on Form S-3 (File No. 333-227248) previously filed with and declared effective by the Securities and Exchange Commission ("SEC") on September 28, 2018. A final prospectus supplement and an accompanying prospectus relating to the offering were filed with the SEC on May 20, 2020 and are available on the SEC’s website located at View Source Electronic copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained from: National Securities Corporation, 200 Vesey St., 25th Floor, New York, NY 10281, by telephone at (212) 417-3634 or by email at [email protected].
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.