Roka Bioscience, Inc. Completes Private Placement of Preferred Stock and Warrants

WARREN, N.J., Sept. 22, 2016

The net proceeds to the Company from the private placement, after deducting the placement agent's fees and expenses and the Company's estimated offering expenses, are expected to be approximately $21.3 million. The Company intends to use the net proceeds for general corporate purposes. 

Certain funds affiliated with certain members of the Company's board of directors, and certain officers and directors of the Company, agreed to purchase an aggregate of 12,145 shares of Series A Preferred Stock, which will be convertible into approximately 17,350,001 shares of common stock, and warrants to purchase approximately 17,350,001 shares of common stock in the offering.

Roth Capital Partners acted as the sole placement agent for the transaction.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

The securities sold in the private placement have not been registered under the Securities Act of 1933, as amended, or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission or an applicable exemption from such registration requirements. The securities were offered only to accredited investors. Pursuant to the terms of the registration rights agreement, Roka will agree to file a registration statement with the Securities and Exchange Commission covering the resale of the shares of common stock issuable upon conversion of the Series A Preferred Stock and upon exercise of the warrants.

Terms of the private placement can be found on a Form 8-K filed with the Securities and Exchange Commission on September 16, 2016.