Biocept, Inc. (BIOC), a leading commercial provider of clinically actionable liquid biopsy tests designed to improve the outcomes of cancer patients, today announced that it has entered into securities purchase agreements with certain institutional investors providing for the purchase and sale of 4,320,000 shares of common stock at a price of $2.15 per share and warrants to purchase up to 2,160,000 shares of common stock with an exercise price of $2.50 per share. The warrants will be exercisable six months following the closing date and will expire five years from the date they become exercisable. The gross proceeds of the offering are expected to be approximately $9.3 million.

The offering is expected to close on or about March 31, 2017, subject to satisfaction of customary closing conditions. Net proceeds of the offering, after placement and other fees and estimated expenses payable by Biocept are expected to be approximately $8.4 million. Biocept intends to use the proceeds for working capital and general corporate purposes.

Roth Capital Partners acted as lead placement agent in connection with the offering. WestPark Capital, Inc. and Chardan Capital acted as co-placement agents.