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Vermillion (VRML -2.3%) reverses earlier gains to trade lower today, after saying VRML), a...

Vermillion (VRML -2.3%) reverses earlier gains to trade lower today, after saying it's closed its 8M share private placement, with net proceeds of $11.8M after expenses. The company also issued warrants for 12.5M shares of stock at $1.46 per share, which could give VRML an additional $18.3M in proceeds, bringing the total gross proceeds to $31.5M.
Comments (1)
  • CDrucker
    , contributor
    Comments (53) | Send Message
     
    Massive dilution that will double the sharecount. Vermillion (VRML) is one screwed up company. Their OVA1 cancer test, after 3 years, will not generate any worthwhile sales and the company spends way too much money to ever come close to break even. This dilution is good for those few who are in on it, bad all the other shareholders holding the shares at current market values.
    14 May 2013, 02:30 PM Reply Like
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