Vermillion raises $43.1 million

Vermillion (Pink:VRMLQ) raised $43.1 million through the sale of 2.3 million shares at $18.49 in a private placement. The price is a 16% discount to Vermillion's close of $22 on Dec. 24, the last trading day before the offering was announced. Vermillion said it will use the funds to finance the company's reorganization and repay obligations. The company filed a plan of reorganization this month as part of its Chapter 11 bankruptcy proceedings, which started in April. ...