Venaxis, Inc. Announces Full Exercise of Underwriter's Over-Allotment Option
CASTLE ROCK, Colo., Dec. 12, 2012
CASTLE ROCK, Colo., Dec. 12, 2012 /PRNewswire/ --Venaxis, Inc. (formerly
AspenBio Pharma, Inc.) (Nasdaq: APPY), an in vitro diagnostic company, today
announced the full exercise of the over-allotment option granted to the
underwriters to purchase an additional 291,900 shares of common stock, at a
public offering price of $2.10 per share in connection with its previously
announced underwritten public offering of 1,946,000 shares of common stock,
bringing total gross proceeds from the offering to approximately $4.7 million.
Aegis Capital Corp. acted as the sole book-running manager for this offering.
A registration statement on Form S-3 relating to the shares was filed with the
Securities and Exchange Commission and was declared effective on July 27,
2011. A final prospectus supplement relating to the offering has been filed
with the SEC and is available on the SEC's web site at http://www.sec.gov.
Copies of the final prospectus may be obtained from the offices of Aegis
Capital Corp., Prospectus Department, 810 Seventh Avenue, 18th Floor, New
York, NY, 10019, telephone: 212-813-1010 or email: email@example.com, or
from the above-mentioned SEC website.
This press release does not constitute an offer to sell, or the solicitation
of an offer to buy, these securities, nor will there be any sale of these
securities in any state or other jurisdiction in which such offer,
solicitation or sale is not permitted.
About Venaxis, Inc.
Venaxis, Inc. is an in vitro diagnostic company focused on the clinical
development and commercialization of its blood-based appendicitis test,
APPY1. The unique appendicitis test has projected high sensitivity and
negative predictive value and is designed to aid in the identification of
patients at low risk for acute appendicitis, allowing for more conservative
patient management. APPY1 is being developed initially for pediatric,
adolescent and young adult patients with abdominal pain, as this population is
at the highest risk for appendicitis and has the highest risk of long-term
health effects associated with CT imaging. For more information, visit
This press release includes "forward-looking statements" of Venaxis, Inc.
("Venaxis") (formerly - AspenBio Pharma, Inc.) as defined by the Securities
and Exchange Commission ("SEC"). All statements, other than statements of
historical fact, included in this press release that address activities,
events or developments that Venaxis believes or anticipates will or may occur
in the future are forward-looking statements. These statements are based on
certain assumptions made based on experience, expected future developments and
other factors Venaxis believes are appropriate in the circumstances. Such
statements are subject to a number of assumptions, risks and uncertainties,
many of which are beyond the control of Venaxis. Investors are cautioned that
any such statements are not guarantees of future performance. Actual results
or developments may differ materially from those projected in the
forward-looking statements as a result of many factors, including our ability
to successfully complete required product development and modifications in a
timely and cost effective manner, complete clinical trial activities for APPY1
required for FDA submission, obtain FDA clearance or approval, complete and
obtain CE Mark, cost effectively manufacture and generate revenues from APPY1,
execute agreements required to successfully advance the company's objectives,
retain the management team to advance the products, overcome adverse changes
in market conditions and the regulatory environment, obtain and enforce
intellectual property rights, and realize value of intangible assets.
Furthermore, Venaxis does not intend (and is not obligated) to update publicly
any forward-looking statements. The contents of this press release should be
considered in conjunction with the risk factors contained in Venaxis' recent
filings with the SEC, including its Form 10-Q for the period ended September
30, 2012, filed on November 7, 2012.
For Investors & Media:
Joshua Drumm, Ph.D. / Jason Rando
Tiberend Strategic Advisors, Inc.
SOURCE Venaxis, Inc.
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