Vermillion prices equity offerings; shares down 25%

|By:, SA News Editor

Thinly traded nano cap Vermillion (NASDAQ:VRML) slumps 25% premarket on average volume in response to its two equity offerings.

10M shares of common stock at $1 per share.

50K shares of Series B Convertible Preferred Stock at $100/share, each convertible into 100 common shares at $1/share.

Underwriters over-allotment is an additional 1.5M common shares. Closing date is April 17.

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