WALTHAM, Mass., March 5 /PRNewswire-FirstCall/ -- Interleukin Genetics, Inc. today announced that it has received commitments from certain institutional investors to purchase approximately $5.3 million of securities in a registered direct offering. The Company expects to receive net proceeds of approximately $4.9 million after deducting placement agent fees and other offering expenses. Interleukin Genetics has entered into securities purchase agreements with these investors pursuant to which Interleukin Genetics has agreed to sell an aggregate of 4,375,002 shares of its common stock and warrants to purchase up to 1,750,000 additional shares of common stock. Each unit, consisting of one share of common stock and a warrant to purchase 0.40 of a share of common stock, will be sold for a purchase price of $1.20.
Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc., , acted as the exclusive placement agent for the transaction.
About Interleukin Genetics
Interleukin Genetics, Inc. develops and markets genetic tests that empower consumers to prevent certain chronic diseases and that assist pharmaceutical companies in the development and marketing of targeted therapeutics. The Company leverages its research, intellectual property and biomarker development experience to facilitate the emerging personalized health market. Interleukin Genetics markets a line of genetic tests under the Inherent Health brand including Bone Health, Weight Management, Heart Health and Nutritional Needs. The Company is headquartered in Waltham, MA.
CONTACT: Media, Erin Walsh, Interleukin Genetics, +1-781-419-4707,
ewalsh@ilgenetics.com
Web site: http://www.ilgenetics.com/
