Biocept, Inc. (NASDAQ:BIOC) [Trend Analysis] luring active investment momentum, shares a loss -21.64% to $0.93. Biocept, Inc. (BIOC) reported that pricing of an underwritten public offering of 9,100,000 shares of its ordinary stock and warrants to purchase up to an aggregate of 9,100,000 shares of its ordinary stock at a combined offering price of $1.10. The warrants will have a per share exercise price of $1.10, are exercisable immediately and will expire five years from the date of issuance.
The gross proceeds to Biocept from this offering are predictable to be about $10,010,000, before deducting the underwriting discount and estimated offering expenses payable by Biocept. Biocept has granted the underwriters a 30-day option to purchase up to 1,365,000 additional shares of ordinary stock at a purchase price of $1.0331 per share and/or additional warrants to purchase up to 1,365,000 shares of its ordinary stock at a purchase price of $0.0009 per warrant to cover over-allotments, if any. The offering is predictable to close on October 19, 2016, subject to customary closing conditions. The total volume of 1.55 Million shares held in the session was surprisingly higher than its average volume of 217.21 shares.
General Cannabis Corp (OTCMKTS:CANN) rose over 26.80% in last session as following up on its previous announcement that it has been made aware of recent trading and promotional activity concerning CANN ordinary stock, reported that it had been informed by the OTC Markets that Stockpalooza.com is the source of the unsolicited promotional newsletter emails.
The OTC Markets, as part of its ongoing dialogue with General Cannabis regarding certain promotional activities concerning the Firm and its ordinary stock, informed the Firm that the promotional newsletter emails had been issued by Stockpalooza.com and provided the Firm with samples of the promotional activity.
General Cannabis Corporation reaffirms that the Firm, its officers, directors and, to the Firm’s knowledge, its controlling shareholders (i.e., shareholders owning 10% or more of the Firm’s securities) have not, directly or indirectly, authorized or been involved in any way (comprising payment to a third-party) with the creation or distribution of promotional materials by Stockpalooza.com comprising these email newsletters.