By E. Janene Geiss
Philadelphia, Jan. 20 - Solexa, Inc. said it has completed the second closing of a private equity placement for about $40 million, representing the final closing of a $65 million private equity financing with a group of institutional investors that was announced Nov. 21.
The second part of the deal included 6.1 million shares of common stock at $6.50 each.
The units include warrants for the purchase of an additional 2.2 million shares at $7.50 per share at the second closing.
The first closing was completed Nov. 23 and raised $25 million from the sale of 3.9 million shares of common stock and issuance of 1.3 million warrants.
Solexa said it received gross proceeds of $65 million from the first and second closings, resulting in about $61 million of net proceeds to Solexa after deducting costs of the offering.
Hayward, Calif.-based Solexa is a diagnostic substances company that focuses on the development and commercialization of genetic analysis technologies, offering an instrumentation system for genetic analysis based on sequencing-by-synthesis, chemistry and the DNA cluster technology.
| Issuer: | Solexa, Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | $40 second closing, $65 million total
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| Units: | 6.1 million second closing, 10 million total
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| Price: | $6.50
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| Warrants: | 2.2 million second closing, 1.3 million total
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| Warrant expiration: | Jan. 20 (second closing)
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| Warrant strike price: | $7.50
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| Closing date: | Jan. 20
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| Symbol: | Nasdaq: SLXA
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| Stock price: | $10.15 at close Jan. 19
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