IRVINE, Calif., Nov. 06, 2017 (GLOBE NEWSWIRE) — ChromaDex Corp. (Nasdaq:CDXC), a science-based, fully integrated nutraceutical company devoted to extending human healthspan, announced today that it has entered into a securities purchase agreement for the sale of approximately $23 million of its common stock in a private placement. The private placement was led by high profile venture capitalists and international strategic investors. The private placement is expected to close on or about November 17, 2017, subject to the satisfaction of customary closing conditions. In connection with the investment, the Company agreed to sell 5,609,755 shares of its common stock at a per share price of $4.10, for gross proceeds of approximately $23 million.

The net proceeds from the private placement are expected to provide ChromaDex with added resources to accelerate its plan to solve the problem of aging, emphasizing NAD+ in general and TRU NIAGEN^™ in particular. The financing will fuel international expansion, enhance domestic initiative and drive clinical research. The investment will also support general corporate purposes.

Frank Jaksch, Jr., CEO and co-founder of ChromaDex, commented, “ChromaDex is the world’s authority on NAD+ precursors and we now have the assets in place to further our R&D around the anti-aging capabilities of NIAGEN® and to accelerate our pipeline of additional NAD+ precursors.”

Robert Fried, President and Chief Strategy Officer of ChromaDex, added, “We are grateful for the support of these important investors and plan to build on the successful Watsons retail launch of TRU NIAGEN^™ in Hong Kong.”

The shares of common stock being sold in the private placement will not have been registered under the Securities Act of 1933, as amended (the “Act”).Accordingly, such shares may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements under the Act.In connection with the private placement, ChromaDex has entered into a registration rights agreement with the investors.Additional details about the transaction are included in a Form 8-K filed by ChromaDex concurrently with this release.