Sequenom to Issue More Shares of Stock to SensiGen Shareholders

NEW YORK (GenomeWeb News) - Sequenom said after the close of the market yesterday that it has agreed to issue additional shares to shareholders of SensiGen to settle certain claims asserted following Sequenom's purchase of SensiGen's assets.

According to a filing with the US Securities and Exchange Commission, Sequenom will issue to certain stockholders 367,547 shares of its common stock. In July, those shareholders had asserted claims for damages of around $1.3 million from an alleged breach of representations and warranties made by Sequenom in its asset purchase agreement.

Earlier in the year, Sequenom had acquired SensiGen's portfolio of AttoSense genetic tests, as well as certain other assets, for $8.7 million in cash and stock.

Sequenom said that it would issue the shares within five days.