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WaferGen Bio-Systems Announces Successful Completion of Public Offering Raising $20 Million

Companies mentioned in this article: WaferGen Bio-systems, Inc.

FREMONT, Calif., Aug. 27, 2014 /PRNewswire/ -- WaferGen Bio-systems, Inc. (NASDAQ: WGBS) today announced that it has completed its previously announced underwritten public offering of units of common stock and warrants at a price of $10,000 per unit for gross proceeds of $20 million, prior to deducting underwriting discounts and commissions and offering expenses payable by the Company. The shares and warrants are immediately separable and will be issued separately.

Each unit sold in the offering consists of 2,000 shares of common stock and 2,000 warrants to purchase shares of the Company's common stock. A total of 4,000,000 shares of common stock and warrants to purchase 4,600,000 shares of common stock were issued in the offering. The warrants have a term of five years and an exercise price of $5.00 per share.

Ladenburg Thalmann & Co. Inc., a subsidiary of Ladenburg Thalmann Financial Services Inc., is acting as sole book-running manager and National Securities Corporation and Brean Capital, LLC are acting as co-managers.

The Company received approximately $18 million of net proceeds from the offering after deducting underwriting discounts and commissions and offering expenses payable by the Company. The Company intends to use approximately $1.3 million of the net proceeds to repay existing debt and the rest of the net proceeds for general corporate and working capital purposes, including commercialization activities.

A final prospectus describing the terms of the offering has been filed with the SEC. Copies of the final prospectus may be obtained at the SEC's website at www.sec.gov or by contacting Ladenburg Thalmann & Co. Inc., 570 Lexington Ave, 11(th) Floor, New York, NY 10022 or by email at prospectus@ladenburg.com.

About WaferGen Bio-systems, Inc.

WaferGen Bio-systems, Inc. is a life science company that offers innovative genomic solutions for clinical testing and research. The SmartChip MyDesign Real-Time PCR System is a high-throughput genetic analysis platform for profiling and validating molecular biomarkers via microRNA and mRNA gene expression profiling, as well as single nucleotide polymorphism (SNP) genotyping. The SmartChip TE System is a novel product offering for target enrichment geared towards clinical Next-Gen sequencing (NGS). The Company now also offers the Apollo 324 product line used in library preparation for NGS. These three complementary technologies offer a powerful set of tools enabling more accurate, faster and cheaper genetic analysis based on Next-Gen Sequencing and Real-Time PCR. For additional information, please see www.wafergen.com.

Forward Looking Statements

Certain statements made in this press release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended that are intended to be covered by the "safe harbor" created by those sections. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, can generally be identified by the use of forward-looking terms such as "believe," "expect," "may," "will," "should," "could," "seek," "intend," "plan," "estimate," "anticipate" or other comparable terms. Forward-looking statements in this press release may address the net proceeds of the offering and the use of the proceeds from the offering and other statements relating to future events that are not historical facts. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of the Company's most recently filed Annual Report on Form 10-K and subsequently filed Quarterly Reports on Form 10-Q. The Company urges you to consider those risks and uncertainties in evaluating forward-looking statements. The Company cautions readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, the Company disclaims any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

Investor Contacts:

ICR, Inc.
Bob Yedid
bob.yedid@icrinc.com
646-277-1250

Proactive Capital
Jeff Ramson
jramson@proactivecrg.com
646-863-6893

WaferGen Bio-systems, Inc.
Ivan Trifunovich
ivan.trifunovich@wafergen.com
(510) 651-4450

SOURCE WaferGen Bio-systems, Inc.