On March 2, 2020 Biocept, Inc. (NASDAQ: BIOC) ("Biocept" or the "Company"), a leading commercial provider of liquid biopsy tests designed to provide physicians with clinically actionable information to improve the outcomes of patients diagnosed with cancer, reported that it has entered into a securities purchase agreement with several institutional investors for the issuance and sale of 23,000,000 shares of its common stock at a price of $0.40 per share, for aggregate gross proceeds of approximately $9.2 million, in a registered direct offering priced at-the-market under Nasdaq rules (Press release, Biocept, MAR 2, 2020, View Source [SID1234555080]).

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Maxim Group LLC is acting as the sole placement agent for the offering.

The offering is expected to close on or about March 4, 2020, subject to the satisfaction of customary closing conditions.

The common shares are being offered pursuant to a shelf registration statement on Form S-3 (File No. 333-224946) previously filed and declared effective by the Securities and Exchange Commission (SEC). The offering of the shares of common stock will be made only by means of a prospectus supplement that forms a part of the registration statement.