CANCER GENETICS, INC. (NASDAQ:CGIX) Files An 8-K Termination of a Material Definitive Agreement
Item 1.02. Termination of a Material Definitive Agreement.
As a result of the transactions described below in Item 3.02 of this Report, the Note Purchase Agreement, dated as of October 21, 2019, between Cancer Genetics, Inc. (the “Company”) and Atlas Sciences, LLC (“Lender”), as well as the Note (as defined below) were terminated. The information set forth in Item 3.02 of this Report is incorporated herein by reference.
Item 3.02. Unregistered Sales of Equity Securities.
Between September 9, 2020 and September 23, 2020, the Company issued an aggregate of 199,543 shares (the “Exchange Shares”) of the Company’s common stock to Lender in exchange for the return to the Company of $810,234.47 of principal amount and accrued and unpaid interest from the Promissory Note, dated October 21, 2019, made by the Company in favor of Lender (the “Note”), which amount represented the remaining outstanding balance under the Note. The Exchange Shares are not registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws. The Company has relied on the exemption from the registration requirements of the Securities Act by virtue of Section 3(a)(9) under the Securities Act.
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About CANCER GENETICS, INC. (NASDAQ:CGIX)
Cancer Genetics, Inc. is engaged in the field of personalized medicine, enabling precision medicine in the field of oncology through its diagnostic products and services, and molecular markers. The Company develops, commercializes and provides molecular- and biomarker-based tests and services that enable physicians to personalize the clinical management of each individual patient by providing genomic information to diagnose, monitor and inform cancer treatment, and enable biopharmaceutical companies engaged in oncology trials to select candidate populations and manage adverse drug reactions by providing information regarding genomic factors influencing subject responses to therapeutics. It has a range of disease-focused oncology testing portfolio. Its molecular- and biomarker-based diagnostic services are provided for three sectors: cancer centers and hospitals, biotechnology and biopharmaceutical companies, and the research community.