SeqLL Inc. Announces Closing of Upsized $13 Million Initial Public Offering
31 Août 2021 - 9:16PM
SeqLL Inc. (“SeqLL” or the “Company”)
(NASDAQ:SQL; SQLLW), a development-stage life
sciences instrumentation and research services company engaged in
the development of scientific assets and novel intellectual
property across multiple “omics” fields, today announced the
closing of its previously announced initial public offering of
3,060,000 shares of its common stock and accompanying warrants to
purchase up to 3,060,000 shares of common stock. Each share of
common stock was sold together with one warrant to purchase one
share of common stock with an exercise price of $4.25 per share and
an expiration date of five years from the date of issuance at a
combined offering price of $4.25, for gross proceeds of
approximately $13 million, before deducting underwriting discounts
and offering expenses. In addition, SeqLL has granted the
underwriters a 45-day option to purchase up to an additional
459,000 shares of common stock and/or warrants to purchase 459,000
shares of common stock to cover over-allotments at the initial
public offering price, less the underwriting discount, of which
Maxim Group LLC has exercised its option to purchase an additional
459,000 warrants. All of the shares of common stock and warrants
were being offered by the Company.
The shares of common stock and warrants began
trading on the Nasdaq Capital Market on August 27, 2021, under the
symbols “SQL” and “SQLLW,” respectively.
The Company intends to use substantially all of
the net proceeds from the offering to expand its commercial
operations to support life sciences research and applications
development. The Company will prioritize select collaborative
research efforts to develop novel assets across multiple emerging
growth areas. These efforts will include, but are not limited to,
building additional sequencing instruments that utilize its tSMS
technology platform, manufacturing additional reagents and
consumables, and developing proprietary reagents for areas outside
its life sciences focus. The balance will be used for working
capital and other general corporate purposes.
Maxim Group LLC acted as the sole book-running
manager in connection with the offering.
A registration statement on Form S-1 (File Nos.
333-254886 and 333-259097) was filed with the Securities and
Exchange Commission (“SEC”), which became effective on August 26,
2021. A final prospectus relating to the offering was filed
with the SEC and is available on the SEC's website at
http://www.sec.gov. The offering was made only by means of a
prospectus forming part of the effective registration statement.
Electronic copies of the prospectus relating to this offering may
be obtained from Maxim Group LLC, 300 Park Avenue, 16th Floor, New
York, New York 10022, at (212) 895-3745. Before investing in the
Company’s securities, interested parties should read in its
entirety the registration statement that the Company has filed with
the SEC, which provides additional information about the Company
and this offering.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
About SeqLL:SeqLL Inc.
(“SeqLL”) is a development-stage life sciences instrumentation and
research services company engaged in the development of scientific
assets and novel intellectual property across multiple “omics”
fields. The Company intends to leverage their expertise with True
Single Molecule Sequencing (“tSMS®”) technology to enable
researchers and clinicians to contribute major advancements to
scientific research and development by accelerating one’s
understanding of the molecular mechanisms of disease and
fundamental biological processes.
Forward Looking Statements:This
press release contains certain forward-looking statements,
including those relating to the regarding the use of proceeds and
other statements that are predictive in nature. Forward-looking
statements are based on the Company's current expectations and
assumptions. The Private Securities Litigation Reform Act of 1995
provides a safe-harbor for forward-looking statements. These
statements may be identified by the use of forward-looking
expressions, including, but not limited to, "expect," "anticipate,"
"intend," "plan," "believe," "estimate," "potential," "predict,"
"project," "should," "would" and similar expressions and the
negatives of those terms. Prospective investors are cautioned not
to place undue reliance on such forward-looking statements, which
speak only as of the date of this presentation. The Company
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events or
otherwise. Important factors that could cause actual results to
differ materially from those in the forward-looking statements are
set forth in the Company's filings with the Securities and Exchange
Commission, including its registration statement on Form S-1, as
amended from time to time, under the caption "Risk Factors."
Contact:John
Kennedyinvestors@seqll.com
SeqLL (NASDAQ:SQLLW)
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