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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Issuer
PURSUANT to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934
Visible Genetics, Inc.
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(Exact name of Registrant)
700 Bay Street, Suite 1000, Toronto, ON, Canada M5G 1Z6
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(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F
Form 20-F |X| Form 40-F |_|
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes |_| No |x|
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<PAGE>
VISIBLE GENETICS INC.
On November 20, 1998, the Company issued a press release to announce the private
placement of 1,528,989 Common Shares for aggregate gross proceeds of $15.1
million.
Exhibit 1. Press release - "Visible Genetics Inc. Closes $15.1 Million Private
Equity Financing"
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SIGATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
VISIBLE GENETICS INC.
Date: November 20, 1998 By: /s/ Jeffrey D. Sherman
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Jeffrey D. Sherman
Vice President, Finance & C.F.O.
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Exhibit 1
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For Immediate Release
VISIBLE GENETICS INC. CLOSES
$15.1 MILLION PRIVATE EQUITY FINANCING
Toronto, Canada (November 20, 1998) Visible Genetics Inc. (Nasdaq: VGIN)
announced today that it has closed a private placement of 1.53 million common
shares at US$9.875 per share, for total proceeds of US$15.1 million. Cruttenden
Roth Incorporated of Irvine, California served as sole placement agent for the
offering, which was placed with US institutional investors. The per-share price
represents an approximate 3% discount to Visible Genetics' average closing price
over the 60 trading days prior to November 15, 1998, the date the offering was
priced.
Concurrent with the closing of the private placement, the Company filed a shelf
registration statement with the Securities and Exchange Commission covering the
shares issued in the private placement.
Visible Genetics Inc. manufactures and markets high performance automated DNA
sequencing systems and complete diagnostic kits for the analysis of genes linked
to disease.
A registration statement relating to these securities has been filed with the
Securities and Exchange Commission but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior to the time
the Registration Statement becomes effective. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or qualification
under the securities laws of any such state.
