OMAHA, Neb.--(BUSINESS WIRE)--Transgenomic, Inc. (NASDAQ: TBIO) announced today that it has raised gross proceeds of approximately $2.375 million in a private placement financing with a syndicate of new and existing institutional and other accredited investors. The Company’s common shares were priced at $3.25 per share, which represents a premium to the closing stock price on October 21, 2014. For each share of common stock purchased, investors also received a warrant to purchase 0.5 shares of the Company’s common stock at an exercise price of $4.00 per share. The warrants have a term of exercise equal to five years from the first date of exercise, which is six months following the closing date. In the aggregate, the Company issued approximately 0.73 million shares of common stock and 0.37 million warrants.
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