Bioptix, Inc. (NASDAQ:BIOP) Files An 8-K Other EventsItem 8.01 Other Events.
As previously disclosed on the Current Report on Form 8-K, filed with the Securities and Exchange Commission on March 17, 2017, on March 15, 2017, Bioptix, Inc. (the “Company”) sold $4,750,000 of principal amount of convertible promissory notes (the "Notes") and three year warrants (the "Warrants") to purchase shares of the Company's common stock to certain accredited investors.
The Notes and the Warrants, as well as the proceeds from the sale therefrom, were placed in escrow pending the occurrence or non-occurrence of a Qualified Transaction (as defined in the governing purchase agreements). On August 18, 2017, the lead investor in the transaction waived the requirement for the occurrence of a Qualified Transaction and gross proceeds of $4.75 million were released to the Company and the Notes and Warrants were released to the investors.
About Bioptix, Inc. (NASDAQ:BIOP)
Bioptix, Inc., formerly Venaxis, Inc., provides Enhanced Surface Plasmon Resonance (SPR) platform for the detection of molecular interactions. The Company’s line of Enhanced SPR instruments are designed to increase the flexibility and reliability of SPR. Its SPR biosensors shed light on important binding parameters that are crucial for determining whether a biologic or small molecule drug will be efficacious in humans and at what dose a drug should be administered. Its technology is an ultra-sensitive detection platform. The design of its SPR spectrometers allows discrete areas within the sample cell to be interrogated simultaneously by use of photo-diode arrays aligned to the reflected beam from the sample cell. Its biosensors provide information on kinetic processes (association and dissociation), binding affinities, analyte concentrations and real-time molecule detection. The Company offers 404pi Enhanced SPR System, which enables real-time detection of biomolecular interactions.
