Response Genetics has entered into a purchase agreement with certain funds managed by Lansdowne Partners Limited Partnership, to raise approximately $4 million.
The company is likely to raise this from the private placement of 3,057,907 newly issued shares of its common stock, at a purchase price of $1.30 per share.
The closing of the sale of the shares occurred simultaneously with the signing of the purchase agreement on July 22, 2009.
The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws. They may not be offered or sold in the US absent registration with the SEC or an applicable exemption from the registration requirements.
Response Genetics has agreed to file a registration statement with the SEC, covering the resale of the shares of common stock issued in the private placement.