Lumera Corporation Announces Registered Direct Offering and Preliminary Q2 2008 Results (Business...

BOTHELL, Wash.--(BUSINESS WIRE)--Lumera Corporation (NASDAQ:LMRA - News ) today announced that the Company has entered into definitive agreements with selected institutional investors to sell 4 million shares of its common stock and warrants to purchase an additional 2 million shares through a registered direct offering for net proceeds of approximately $2.8 million, after deducting offering fees and expenses. The Company intends to use the net proceeds from this offering for general corporate purposes, and has raised the funds in order to meet minimum capital requirements under the conditions of the previously announced proposed merger with GigOptix, LLC. The shares and warrants are being offered pursuant to the Company’s effective shelf registration statement that was previously filed on Form S-3 with the Securities and... [read full story]