12:40 PM EST, 02/10/2025 (MT Newswires) -- Oncocyte ( OCX ) said Monday it priced a private placement and registered direct offering of common stock at $2.05 per share for total gross proceeds of about $29.1 million.

The private placement was for the sale of about 7.5 million common shares and pre-funded warrants to purchase up to roughly 3.1 million common shares, for gross proceeds of about $21.7 million, the company said.

The registered direct offering was for the sale of about 3.6 million common shares for gross proceeds of about $7.4 million, Oncocyte ( OCX ) said.

The offerings are expected to close by Monday, the company said. Oncocyte ( OCX ) said it plans to use the net proceeds from both offerings for working capital and general corporate purposes.

The company said its five biggest shareholders, including Bio-Rad Laboratories ( BIO/B ) , led the funding round.

Oncocyte ( OCX ) shares rose 5% and Bio-Rad Laboratories ( BIO/B ) shares nearly 5% in recent trading.

Price: 2.11, Change: +0.10, Percent Change: +5.07