OncoCyte Corp Announces Equity Placement and Fundraising Efforts

OncoCyte Corp (OCX) just unveiled an announcement.

Oncocyte Corporation has initiated a private placement transaction issuing over 5 million common shares and pre-funded warrants to accredited investors, targeting a closing date around April 15, 2024, with expected proceeds of approximately $15.8 million before expenses. These funds are earmarked for general corporate purposes and to redeem outstanding Series A Preferred Stock. The deal includes a registration rights agreement to facilitate the resale of the shares and warrants, and Needham & Company, LLC is serving as the placement agent for this transaction.

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