VolitionRx Announces Pricing of up to $21.5 Million Registered Direct Offering

Core Viewpoint - VolitionRx Limited has announced a stock offering that aims to raise approximately $7 million, with potential additional proceeds of up to $14.5 million through milestone-linked warrants, to support its research and development efforts in epigenetics and disease detection [1][4]. Group 1: Offering Details - The company is offering 12,727,273 shares of common stock at an offering price of $0.55 per share, along with milestone-linked warrants [1]. - The milestone-linked series A and B warrants have an exercise price of $0.57 per share and will expire under specific conditions related to significant agreements and FDA approvals [3]. - The offering is expected to close around August 12, 2024, pending customary closing conditions [1]. Group 2: Financial Implications - The gross proceeds from the offering are expected to be approximately $7 million before deducting fees and expenses [4]. - If fully exercised, the milestone-linked warrants could provide an additional $14.5 million in gross proceeds [4]. Group 3: Company Overview - Volition is a multi-national company focused on advancing epigenetics to improve disease detection and monitoring [7]. - The company is developing cost-effective blood tests for diagnosing and monitoring various diseases, including certain cancers and conditions associated with NETosis [8]. - Research and development activities are primarily based in Belgium, with additional offices in the U.S., Nevada, London, and Singapore [9].