MM Dillon acted a s a placement agent for CareDx, Inc. (NASDAQ:CDNA) in selling approximately 592,000 units in a private placement to be issued by CareDx, for aggregate proceeds in the amount of approximately $14.1 million plus an additional $8 million to be reserved for future investment by certain shareholders. The units were sold to selected institutional and accredited investors and included new shareholders as well as significant participation by current shareholders of CareDx. Each unit consisted of the following securities of the Company: one share of common stock, five shares of mandatorily convertible preferred stock and warrants to purchase three shares of common stock. Upon stockholder approval, the shares of mandatorily convertible preferred stock will convert into, and the warrants will be exercisable for, shares of common stock. The Company has entered into voting agreements with the requisite stockholders assuring stockholder approval.
About CareDx, Inc
CareDx, Inc., based in Brisbane, California, is a molecular diagnostics company focused on the discovery, development and commercialization of clinically differentiated, high-value diagnostic surveillance solutions for transplant patients. The company has commercialized AlloMap®, a gene expression test that aids clinicians in identifying heart transplant patients with stable graft function who have a low probability of moderate/severe acute cellular rejection. CareDx is also pursuing the development of additional products for transplant monitoring using a variety of technologies, including AlloSureTM, its next-generation sequencing–based test to detect donor-derived cell-free DNA after transplantation. For more information, please visit: www.CareDx.com.
About M.M. Dillon & Co.
M.M. Dillon & Co. (formerly CRT Investment Banking LLC) is an employee owned partnership where industry and product specialists collaborate closely to provide creative, idea-driven advice and solutions to its institutional and corporate clients. M.M. Dillon offers public and private financing, M&A advisory and restructuring advisory services. M.M. Dillon’s team of experienced professionals provides execution capabilities for companies across a range of industry sectors. The firm’s senior banking professionals have a minimum of 20 years of experience with major Wall Street firms.