Benzinga | Apr 5, 2021 09:06AM EDT

Precipio Enters Into At-The-Market Financing Arrangement Of Up To $20M

Specialty diagnostics company Precipio, Inc. (NASDAQ:PRPO), announces a new "At-The-Market" (ATM) financing arrangement that improves its financing flexibility. As provided in the Company's prospectus supplement filed on April 2, 2021, Precipio will be able to sell shares from time to time through the ATM offering, up to an aggregate of $20M. The Company anticipates that this will be its primary financing method going forward.

The ATM will be managed by Alliance Global Partners, an investment bank with which Precipio has been working since 2017. This arrangement will be used in an ongoing manner to finance Precipio's operations and provide the resources the Company needs to fuel its growth, particularly for its new HemeScreen offering for physician offices.

As the Company continues to grow, having the most cost-effective, flexible financial tools at its disposal is critical to financing in the least dilutive manner. The ATM structure provides Precipio's management with more control over the timing, pricing, and proceeds it receives from selling shares into the market.