Atossa Genetics Prices 5.8 Mln Units Public Offering At $2.40/unit

(RTTNews) - Atossa Genetics Inc. (ATOS), a company focused on proprietary products and services related to breast health, Friday announced that it has priced a public offering of about 5.8 million units at $2.40 per unit. The company also said that it has received commitments and indications for approximately $14 million in gross proceeds.

The company intends to use the net proceeds from this offering for corporate purpose which include, funding the development and relaunch of its ForeCYTE Breast Adapter as well as the development of other pipeline products such as FullCYTE Breast Health Test, Next NextCYTE Breast Cancer Test, ArgusCYTE Breast Health Test, its planned intra-ductal treatment program, and for general and administrative expenses.

The shares and warrants will be issued separately, and no units will be issues or certified. The warrants can be exercised immediately upon issuance, have a five-year term and an exercise price of $3.00 per share.

The sale of the units is expected to close on or about January 29, 2014. Dawson James Securities, Inc. is acting as the sole book-running manager for the offering.