IRVINE, Calif., Dec. 20, 2013 (GLOBE NEWSWIRE) -- CombiMatrix Corporation (Nasdaq:CBMX), a molecular diagnostics company specializing in DNA-based testing services for developmental disorders and cancer diagnostics, today announced that it has closed its previously announced firm commitment underwritten public offering of 12,000 units of Series D convertible preferred stock and warrants at a price to the public of $1,000 per unit for gross proceeds of $12 million, prior to deducting underwriting discounts and commissions and offering expenses payable by the Company. Each unit consists of one share of Series D convertible preferred stock, which is convertible into 485.4369 shares of common stock at a conversion price of $2.06 per share, and one warrant to purchase 485.4369 shares of common stock at an exercise price of $3.12 per share. The net proceeds from the sale of the units, after deducting underwriting discounts and commissions and offering expenses payable by the Company, are anticipated to be approximately $10.8 million.
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