Benzinga | Jun 10, 2021 07:40AM EDT

Progenity Announces $40M Private Placement

Progenity, Inc. ("Progenity") (NASDAQ:PROG), an innovative biotechnology company, today announced that it has entered into a definitive securities purchase agreement with two leading healthcare-focused investment funds for the sale of units consisting of shares of common stock (or pre-funded warrants to purchase common stock in lieu thereof) and warrants to purchase common stock, as described below, in a private placement expected to result in gross proceeds to Progenity of approximately $40 million, before deducting placement agent commissions and other offering expenses.