Interpace Biosciences Announces Capital Restructuring of Its Preferred Stock as a First Step Toward Seeking an Uplisting of Its Common Stock to Nasdaq
Interpace Biosciences (OTCQX: IDXG) has announced a capital restructuring of its preferred stock as a first step towards seeking an uplisting of its common stock to Nasdaq. The company's Series B Preferred Stock investors, Ampersand Capital Partners and 1315 Capital, have exchanged their existing 47,000 shares for newly created Series C Preferred Stock.
The new Series C Preferred Stock has a conversion price of $2.02 into common stock and will automatically convert upon a Nasdaq uplisting. It eliminates certain rights associated with the Series B stock, including liquidation preference, director designation rights, and specific protective voting rights.
This restructuring is aimed at adjusting Interpace's capital structure to facilitate raising growth capital. The company believes a Nasdaq listing would help in raising additional capital, increasing investor interest, and pursuing acquisitions.
Interpace Biosciences (OTCQX: IDXG) ha annunciato una ristrutturazione del capitale delle sue azioni privilegiate come primo passo per cercare un uplisting delle sue azioni ordinarie al Nasdaq. Gli investitori delle azioni privilegiate di Serie B della società, Ampersand Capital Partners e 1315 Capital, hanno scambiato le loro 47.000 azioni esistenti con le nuove azioni privilegiate di Serie C.
La nuova Serie C delle azioni privilegiate ha un prezzo di conversione di 2,02 dollari in azioni ordinarie e si convertirà automaticamente al momento dell'uplisting al Nasdaq. Essa elimina alcuni diritti associati alle azioni di Serie B, inclusi il diritto di preferenza in caso di liquidazione, i diritti di designazione del direttore e specifici diritti di voto protettivi.
Questa ristrutturazione mira ad adeguare la struttura del capitale di Interpace per facilitare la raccolta di capitale per la crescita. L'azienda crede che una quotazione al Nasdaq possa aiutare a raccogliere ulteriore capitale, aumentare l'interesse degli investitori e perseguire acquisizioni.
Interpace Biosciences (OTCQX: IDXG) ha anunciado una reestructuración de capital de sus acciones preferentes como primer paso para buscar un uplisting de sus acciones comunes en Nasdaq. Los inversores de las acciones preferentes de Serie B de la compañía, Ampersand Capital Partners y 1315 Capital, han intercambiado sus 47,000 acciones existentes por nuevas acciones preferentes de Serie C.
Las nuevas acciones preferentes de Serie C tienen un precio de conversión de $2.02 en acciones comunes y se convertirán automáticamente al momento del uplisting en Nasdaq. Se eliminan ciertos derechos asociados con las acciones de Serie B, incluidos el derecho de preferencia en caso de liquidación, los derechos de designación de directores y derechos de voto protectores específicos.
Esta reestructuración tiene como objetivo ajustar la estructura de capital de Interpace para facilitar la obtención de capital para el crecimiento. La compañía cree que una cotización en Nasdaq ayudaría a recaudar capital adicional, aumentar el interés de los inversores y perseguir adquisiciones.
인터페이스 바이오사이언스 (OTCQX: IDXG)는 나스닥에 일반 주식을 상장하기 위한 첫 번째 단계로 자본 구조의 재조정을 발표했습니다. 회사의 B형 우선주 투자자인 암퍼샌드 캐피탈 파트너스와 1315 캐피탈은 기존 47,000주를 새롭게 발행된 C형 우선주로 교환했습니다.
새로운 C형 우선주는 보통주로 전환할 수 있는 가격이 $2.02이며, 나스닥 상장 시 자동으로 전환됩니다. 이는 B형 주식과 관련된 특정 권리, 즉 청산 우선권, 이사 지정권 및 특정 보호 투표권을 소멸시킵니다.
이번 재조정은 인터페이스의 자본 구조를 조정하여 성장 자본을 모으는 데 도움을 주기 위한 것입니다. 회사는 나스닥 상장이 추가 자본을 모으고, 투자자의 관심을 늘리며, 인수합병을 추진하는 데 도움이 될 것이라고 믿고 있습니다.
Interpace Biosciences (OTCQX: IDXG) a annoncé une restructuration de son capital concernant ses actions privilégiées comme première étape pour envisager un uplisting de ses actions ordinaires sur le Nasdaq. Les investisseurs des actions privilégiées de série B de la société, Ampersand Capital Partners et 1315 Capital, ont échangé leurs 47 000 actions existantes contre de nouvelles actions privilégiées de série C.
Les nouvelles actions privilégiées de série C ont un prix de conversion de 2,02 $ en actions ordinaires et se convertiront automatiquement lors d’un uplisting sur le Nasdaq. Cela supprime certains droits associés aux actions de série B, y compris le droit de préférence en cas de liquidation, le droit de désignation des directeurs et des droits de vote protecteurs spécifiques.
Cette restructuration vise à ajuster la structure du capital d'Interpace afin de faciliter la collecte de capital de croissance. L'entreprise pense qu'une cotation sur le Nasdaq aiderait à lever des fonds supplémentaires, à augmenter l'intérêt des investisseurs et à poursuivre des acquisitions.
Interpace Biosciences (OTCQX: IDXG) hat eine Kapitalrestrukturierung seiner Vorzugsaktien angekündigt, als ersten Schritt zur Angliederung seiner Stammaktien an die Nasdaq. Die Investoren der Serie-B-Vorzugsaktien des Unternehmens, Ampersand Capital Partners und 1315 Capital, haben ihre bestehenden 47.000 Aktien gegen neu geschaffene Serie-C-Vorzugsaktien eingetauscht.
Die neuen Serie-C-Vorzugsaktien haben einen Umwandlungspreis von 2,02 USD in Stammaktien und werden automatisch bei einer Nasdaq-Angliederung umgewandelt. Sie beseitigen bestimmte Rechte, die mit den Serie-B-Aktien verbunden sind, einschließlich Liquidationspräferenz, Direktorenauswahlrechte und spezifische Schutzstimmrechte.
Diese Restrukturierung zielt darauf ab, die Kapitalstruktur von Interpace anzupassen, um das Wachstumskapital zu beschaffen. Das Unternehmen ist der Ansicht, dass eine Nasdaq-Notierung helfen würde, zusätzliches Kapital zu beschaffen, das Interesse von Anlegern zu steigern und Akquisitionen zu verfolgen.
- Capital restructuring may improve the company's ability to raise growth capital
- Potential uplisting to Nasdaq could increase investor interest and trading volume
- Automatic conversion of Series C Preferred Stock upon Nasdaq uplisting simplifies capital structure
- Elimination of certain investor rights in new Series C Preferred Stock may benefit common shareholders
- Additional steps may be required to meet Nasdaq listing requirements
- Potential dilution for existing common stockholders upon conversion of Series C Preferred Stock
PARSIPPANY, NJ, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Interpace Biosciences, Inc. (“Interpace” or the “Company”) (OTCQX: IDXG) today announced that its Series B Preferred Stock investors, Ampersand Capital Partners and 1315 Capital (the “Investors”), have exchanged (the “Exchange”) their existing Series B Preferred Stock for a new issuance of Series C Preferred Stock in order to assist the Company in seeking an uplisting of its Common Stock to Nasdaq.
The Investors exchanged an aggregate of 47,000 shares of the Company’s existing Series B Preferred Stock comprising 28,000 shares of Series B Preferred Stock held by Ampersand Capital Partners and 19,000 shares of Series B Preferred Stock held by 1315 Capital for 47,000 newly created shares of Series C Preferred Stock. The Series C Preferred Stock will have a conversion price into Common Stock of
Tom Burnell, Chairman, President and CEO of Interpace said, “The Company has considered a number of opportunities over the past several years to adjust its capital structure that would allow for raising growth capital given the Company’s recent strong financial performance.” Burnell added, “The willingness of Ampersand Capital Partners and 1315 Capital to partner with the Company for the long-term benefit of all shareholders, and, most importantly, the patients we serve, is truly appreciated. The Medical community has longed for the continued use of molecular diagnostics to risk-stratify both thyroid and pancreatic cancers. The agreed-to exchange between the Company and its Preferred Shareholders will undoubtedly create further opportunities to extend this mission.”
The Exchange is the first significant step for the Company to seek an uplisting of its Common Stock to Nasdaq and other steps may need to be taken in order to satisfy Nasdaq listing requirements, including meeting Nasdaq’s stockholder equity and minimum bid price requirements. The Company believes that a Nasdaq listing would assist it in raising additional capital, increasing investor interest and trading volume in its Common Stock, and pursuing acquisitions.
About Interpace Biosciences
Interpace Biosciences is an emerging leader in enabling personalized medicine, offering specialized services along the therapeutic value chain from early diagnosis and prognostic planning to targeted therapeutic applications.
The Company provides clinically useful molecular diagnostic tests and bioinformatics and pathology services for evaluating risk of cancer by leveraging the latest technology in personalized medicine for improved patient diagnosis and management. Interpace has five commercialized molecular tests and one test in a clinical evaluation program (CEP): PancraGEN® for the diagnosis and prognosis of pancreatic cancer from pancreatic cysts; PanDNA®, a “molecular only” version of PancraGEN that provides physicians a snapshot of a limited number of factors; ThyGeNEXT® for the diagnosis of thyroid cancer from thyroid nodules utilizing a next-generation sequencing assay; ThyraMIR®v2, used in combination with ThyGeNEXT®, for the diagnosis of thyroid cancer utilizing a proprietary microRNA pairwise expression profiler along with algorithmic classification; and RespriDX®, that differentiates lung cancer of primary versus metastatic origin. In addition, BarreGEN®, a molecular-based assay that helps resolve the risk of progression of Barrett’s Esophagus to esophageal cancer, is currently in a CEP, whereby we gather information from physicians using BarreGEN to assist us in gathering clinical evidence relative to the safety and performance of the test and also providing data that will potentially support payer reimbursement.
For more information, please visit Interpace Biosciences’ website at www.interpace.com.
Forward-looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995, relating to the Company’s future financial and operating performance. The Company has attempted to identify forward-looking statements by terminology including “believes,” “estimates,” “anticipates,” “expects,” “plans,” “projects,” “intends,” “potential,” “may,” “could,” “might,” “will,” “should,” “approximately” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. These statements are based on current expectations, assumptions and uncertainties involving judgments about, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the Company’s control. These statements also involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results to be materially different from those expressed or implied by any forward-looking statements, including, but not limited to, the Company’s ability to satisfy Nasdaq listing requirements and achieve an uplist to Nasdaq of its Common Stock. Additionally, all forward-looking statements are subject to the “Risk Factors” detailed from time to time in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as amended, Current Reports on Form 8-K and Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. Because of these and other risks, uncertainties and assumptions, undue reliance should not be placed on these forward-looking statements. In addition, these statements speak only as of the date of this press release and, except as may be required by law, the Company undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
Contacts:
Investor Relations
Interpace Biosciences, Inc.
(855)-776-6419
Info@Interpace.com
FAQ
What is the purpose of Interpace Biosciences' capital restructuring?
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What is the conversion price of the new Series C Preferred Stock for Interpace Biosciences (IDXG)?
When will the Series C Preferred Stock of Interpace Biosciences (IDXG) convert to common stock?
