Vermillion just came out with a new prospectus, available here. This is an SEC requirement for firms looking to issue certain types of securities. An excerpt of the prospectus is provided below:
We estimate that the net proceeds to us from the offering of common stock being made pursuant to this prospectus supplement, after deducting
underwriting discounts, will be approximately $ million (or approximately $ million if the underwriters exercise their option to purchase additional shares
in full). We estimate that the aggregate net proceeds to us from the offering will be approximately $ million (or approximately $ million if the
underwriters exercise their option to purchase additional shares in full), after deducting underwriting discounts in the offering and estimated offering expenses payable by us.
We intend to use the net proceeds of the offering for sales and marketing, working capital and other general corporate purposes, including
investing in key strategic hires, product portfolio expansion, and research and development. We may also use a portion of the net proceeds from the offering to acquire or invest in complimentary businesses, technologies, product candidates or other
intellectual property, although we have no present commitments or agreements to do so. The timing and amount of our actual expenditures will be based on many factors, including cash flows from operations and the anticipated growth of our business.
As a result, our management will have broad discretion to allocate the net proceeds of the offering. Pending their ultimate use, we intend to invest the net proceeds in short-term, investment-grade, interest-bearing instruments.
The above information was disclosed in a filing to the SEC. To see the filing, click here.
To receive a free e-mail notification whenever Vermillion makes a similar move, sign up!
Other recent filings from the company include the following:
Vermillion's President and CEO was just granted 5,000 options - Sept. 1, 2022
Vermillion's General Counsel & Secretary just picked up 26,667 shares - Aug. 30, 2022
Vermillion director just picked up 13,332 shares - Aug. 29, 2022
Vermillion's President & CEO just picked up 66,667 shares - Aug. 29, 2022
Jack W. Schuler Living Trust just provided an update on activist position in Vermillion - Aug. 29, 2022