WferGen completes $17.25m offering

Proceeds to be Used Primarily for Research and Development Initiatives and ICELL8(TM) Single-Cell System Commercialization Activities

WaferGen Bio-systems, Inc. (NASDAQ:WGBS) today announced that the Company has completed the previously announced underwritten public offering.

Due to the exercise in full of the underwriters’ over-allotment option, the Company received gross proceeds of $17.25 million and issued a total of 6,170,000 shares of common stock, shares of preferred stock convertible into 11,080,000 shares of common stock and warrants to purchase 17,250,000 shares of common stock. The preferred stock issued in this transaction includes a beneficial ownership blocker, but has no dividend rights (except to the extent dividends are also paid on the common stock), liquidation preference or other preferences over common stock.

Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Financial Services Inc., acted as sole book-running manager for the offering, and Chardan Capital Markets, LLC, and Dougherty & Company acted as co-managers.

The net proceeds of the offering are estimated to be approximately $15.7 million, after deducting underwriting discounts and commissions and estimated offering expenses. WaferGen intends to use the net proceeds from the offering for research and development initiatives, ICELL8 Single-Cell System-related commercialization activities and for general corporate and working capital purposes.

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