Biocept (BIOC) Prices 23M Share Registered Direct Offering at $0.40/Sh

Biocept, Inc. (NASDAQ: BIOC) today announced that it has entered into a securities purchase agreement with several institutional investors for the issuance and sale of 23,000,000 shares of its common stock at a price of $0.40 per share, for aggregate gross proceeds of approximately $9.2 million, in a registered direct offering priced at-the-market under Nasdaq rules.

Maxim Group LLC is acting as the sole placement agent for the offering.

The offering is expected to close on or about March 4, 2020, subject to the satisfaction of customary closing conditions.

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