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Print Edition StoriesFriday, March 5, 2010
Interleukin to net $5M from securities offering
By Mass High Tech staff
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Interleukin Genetics Inc., a developer of genetics-based tests for the consumer market, has announced that institutional investors have agreed to pay about $5.3 million for a combination of company stock and warrants. After related fees and expenses, Waltham-based Interleukin is expected to bring in about $4.9 million.
The registered direct offering entails Interleukin’s sale of 4.38 million shares of stock, as well as warrants for another 1.75 million shares of stock. A unit — one stock share and warrant for 0.40 of a share — costs $1.20.
Interleukin (AMEX: ILI) develops swabs and related tools that enable people to collect genetic material as well as tests that monitor everything from nutritional health to the onset of periodontal disease.
In January, the company filed paperwork with the U.S. Securities and Exchange Commission to sell up to $75 million in stock and debt.
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