Vermillion, Inc. (NasdaqCM:VRML) announced a private placement of 8,000,000 common shares at a price of $1.46 per share and 12,500,000 warrants at a price of $0.125 per warrant for gross proceeds of $13,242,500 on May 8, 2013. The warrants will be exercisable into common shares of the company at a price of $1.46 per share for a period of three years. The round will include participation from new investors, Oracle Partners, LP, Oracle Ten Fund Master, LP, funds managed ... by Oracle Investment Management, Inc., Jack W. Schuler, Matthew W. Strobeck, and other investors. The company will issue securities pursuant to exemption provided under Regulation D. BDO USA LLP and PricewaterhouseCoopers LLP will act as accountants to the company. Robert Claassen of Paul Hastings LLP will act as legal advisor to the company. Jeffrey Hochman of Willkie Farr & Gallagher LLP will act as legal advisor to the investors. The company will reimburse up to $100,000 to Willkie Farr & Gallagher LLP.
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