Solexa Ltd. (SLXA) Secures Two-Year Equity Financing Commitment
9/20/2006 11:52:57 AM
HAYWARD, Calif. & CAMBRIDGE, England--(BUSINESS WIRE)--Sept. 20, 2006--Solexa, Inc. (Nasdaq:SLXA) today announced that it has secured a commitment for up to $75 million in a common stock equity financing from Azimuth Opportunity Ltd. During the two-year term of the commitment, Solexa may sell at its discretion registered shares of its common stock to Azimuth at a small discount to the market price. Solexa will determine, at its sole discretion, the timing and amount of any sales of its stock, subject to certain conditions. Acqua Capital Management is an advisor to Azimuth Opportunity.