AnPac Bio prices $3.0M registered direct offering

AnPac Bio "announced that it has entered into a securities purchase agreement with certain institutional investors to purchase $3.0 million of its American Depositary Shares, pre-funded warrants to purchase ADSs and warrants to purchase ADSs in a registered direct offering. The Company plans to use the net proceeds from the offering for the advancement of our research and development activities, working capital and general corporate purposes. Under the terms of the securities purchase agreement, the Company has agreed to sell to the institutional investors a total of 625,000 ADSs (the "Offered ADS") priced at $4.00 per ADS, with pre-funded warrants exercisable for 125,000 ADSs and warrants exercisable for 750,000 ADSs. Univest Securities, LLC is acting as the sole placement agent for this offering."