Investor Lawyers Blog
Great Basin Scientific, Inc. (Great Basin) is a biotechnology company that, according to its website, “commercializes technologies that improve ease-of-use and delivers sample-to-result molecular diagnostic testing.” It trades on the NASDAQ exchange under the ticker symbol “GBSN”. Great Basin was underwritten by Dawson James Securities Inc. (Dawson James), a boutique investment bank out of Florida, in an offering on February 25, 2015.
At the time of the offering Great Basin traded at $2.25 per unit and had a market cap of $15 million. According to a letter by Dawson James, the company also issued a secondary offering of $24 million of up to 2.72 million units at $8.80 per unit. Each unit consisted of “one share of Series E preferred stock and eight Series C warrants.”
The price of Great Basin rose after a series of press releases and positive statements, only to plummet at a later date. As of April 2015 Great Basin was trading at a high of $5 per unit, however since then the price has plummeted to $.06 per unit.
If you believe you have been the victim of stockbroker misconduct, you may wish to consult an attorney to find out more about your legal rights and options. Investors may contact a securities arbitration attorney at Law Office of Christopher J. Gray at (866) 966-9598 or newcases@investorlawyers.net for a no-cost, confidential consultation.