Vermillion Seeking $43 million Private Placement
Vermillion Inc., a medical test maker in Chapter 11 reorganization, is seeking over $43.05m via private placement of its stock.
The Fremont business has agreed to sell 2.33 million shares of its stock in a deal set to close around Jan. 7. That’s also the date of a hearing to confirm the company’s plan of reorganization.
The company will spend the money partly to pay what it owes under a debtor-in-possession financing deal with Quest Diagnostics Inc.
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