Sequenom raises placing to $33M
San Diego, USA-based Sequenom has announced that the amount of its previously-announced private placement of common stock has been increased $3.0 million to a total of $33.0 million.
Siemens Venture Capital GmbH has agreed to join the previously-announced investors ComVest Investment Partners, Pequot Private Equity Fund IV and LB I Group (an affiliate of Lehman Brothers) in an aggregate commitment for a $33.0 million private placement of common stock and warrants.
The transaction is expected to close May 31 and net proceeds will be used for general working capital needs, say the firm.
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