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.
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