(MENAFN- ProactiveInvestors)Shares in Biocept Inc (NASDAQ:BIOC) dipped below a dollar after the molecular diagnostics company announced a share offer priced at a buck a throw. The company expects to raise $5mln through the share issue which will also include warrants to purchase around 3.5mln shares at an exercise price of $1.30 a share. The warrants will be immediately exercisable and have a term of five years. Biocept intends to use the net proceeds from the offering for working capital and general corporate purposes. Shares fell 22% to US$0.9801 in morning trading on the Nasdaq exchange.
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