VolitionRx Limited announced securing $2.0 million in funding through a securities purchase agreement with Lind Global Asset Management XII LLC.
The agreement includes the issuance of a senior secured convertible promissory note and a common stock purchase warrant.
This funding will support the Company's ongoing projects in the field of epigenetics.
The funding is a strategic move by VolitionRx to bolster its research and development capabilities and advance innovative solutions in early disease detection.
Agreement Details
The Company will receive $2,000,000 in gross proceeds in exchange for issuing a senior secured convertible promissory note and a common stock purchase warrant.
Payment Structure
The $2,400,000 principal amount will be repaid in 18 monthly installments of $133,333 each, starting six months from issuance date.
Investor Relationship
The Investor can increase monthly payments up to $1,000,000 for two months upon notice to the Company. This flexibility allows for potential adjustment based on project milestones.
- The funding infusion enables VolitionRx to deepen its research and development initiatives, potentially leading to breakthroughs in epigenetics-based diagnostics and treatments.
- The issuance of securities indicates investor confidence in VolitionRx's strategic direction and validates the market's belief in the company's future prospects.
VolitionRx's successful funding agreement underscores its dedication to the advancement of epigenetics research and underscores its strategic positioning in the healthcare sector.