Volitionrx Limited (VNRX) Prices 2.25M Common Stock Offering at $5/Share

September 30, 2016 8:47 AM EDT

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VolitionRx Limited (NYSE: VNRX) today announced the pricing of its previously announced underwritten public offering of 2.25 million shares of common stock at a public offering price of $5.00 per share, resulting in gross proceeds of approximately $11.25 million.

The offering is expected to close on or about October 5, 2016, subject to the satisfaction of customary closing conditions. Volition has granted the underwriters a 30-day option to purchase up to 337,500 additional shares of common stock to cover over-allotments, if any.

National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation (NASDAQ: NHLD), is acting as sole book-running manager for the offering. Lake Street Capital Markets and The Benchmark Company, LLC have acted as advisors in the offering.

Volition intends to use the net proceeds of the offering for continued product development, clinical studies, product commercialization, working capital, and for other general corporate purposes.

The securities described above are being offered by Volition pursuant to a "shelf" registration statement on Form S-3 (File No. 333-206781), including a base prospectus, previously filed with and declared effective by the Securities and Exchange Commission (SEC) on September 18, 2015.

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