SALT LAKE CITY, Feb. 14, 2017 (GLOBE NEWSWIRE) -- Great Basin Scientific, Inc. (OTCQB:GBSN), a molecular diagnostics company, announced today that it has filed a registration statement on Form S-1 with the Securities and Exchange Commission (SEC) relating to a proposed equity offering. The Company anticipates that it will conduct the offering with the assistance of a placement agent on a “best efforts” basis.
The Company expects to use the net proceeds from the offering for research and development, sales and marketing, manufacturing analyzers for customers, automation of manufacturing facility and increasing manufacturing capacity, and general working capital purposes.
Roth Capital Partners will act as sole placement agent for the offering.
The offering of the equity securities may only be made by means of a prospectus filed with the SEC. A copy of the preliminary prospectus relating to the offering is available, for free, on the SEC’s website at http://sec.gov. A copy may also be obtained from the Company. The registration statement relating to these securities has been filed with the SEC, but has not yet become effective. No offer to buy the securities can be accepted and no part of the purchase price can be received until the registration statement has become effective, and any such offer may be withdrawn or revoked, without obligation or commitment of any kind, at any time prior to notice of its acceptance given after the effective date. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any offer or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Great Basin Scientific
Great Basin Scientific is a molecular diagnostics company that commercializes breakthrough chip-based technologies. The Company is dedicated to the development of simple, yet powerful, sample-to-result technology and products that provide fast, multiple-pathogen diagnoses of infectious diseases. The Company’s vision is to make molecular diagnostic testing so simple and cost-effective that every patient will be tested for every serious infection, reducing misdiagnoses, and significantly limiting the spread of infectious disease.
This press release includes forward-looking statements regarding the Company’s proposed registered offering, including but not limited to, statements regarding the offering of the Company’s equity securities, the planned use of net proceeds, the Company’s anticipated capital needs and expenditures during the year ended December 31, 2017 and other similar statements. Forward-looking statements involve risks and uncertainties, which could cause actual results to differ materially, and reported results should not be considered as an indication of future performance. These risks and uncertainties include, but are not limited to: the Company’s ability to complete an offering of our equity securities when expected, if at all, the Company’s anticipated capital needs not varying significantly from those currently projected through 2017, the Company’s anticipated business and customer growth occurring as anticipated and other risks set forth in the Company’s filings with the Securities and Exchange Commission, including the risks set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2015 and Quarterly Report on Form 10-Q for the quarter ended September 30, 2016. These forward-looking statements speak only as of the date hereof and Great Basin Scientific specifically disclaims any obligation to update these forward-looking statements, except as required by law.
Source:Great Basin Scientific, Inc.