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Rosetta Genomics Announces IPO of Majority-Owned Subsidiary Rosetta Green in Israel

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Rosetta Genomics, Ltd. has announced the closing of an initial public offering (IPO) of its majority-owned subsidiary, Rosetta Green, in Israel which raised gross proceeds of 21,900,960 NIS ($6.06 million). Shares of Rosetta Green will trade on the Tel Aviv Stock Exchange (TASE) under the ticker symbol, "RSTG" beginning on February 23, 2011.

Rosetta Green sold 135,200 Units at 160.8 NIS ($44.51) per unit in the IPO, with each unit comprised of 25 ordinary shares, 25 Warrants 1 and 25 Warrants 2 for an aggregate of 3,405,000 ordinary shares, 3,405,000 Warrants 1 and 3,405,000 Warrants 2. The Warrants 1 are exercisable at 8.04 NIS ($2.23) until February 8, 2013 and the Warrants 2 are exercisable at 9.65 NIS ($2.67) until February 8, 2015.

The underwriters purchased 37,983 Units for a total of 6,107,666 NIS ($1.69 million). Following the public offering, Rosetta Green will have 9,905,000 shares outstanding and Rosetta Genomics will hold a 50.03% ownership position in Rosetta Green.

Rosetta Green is investigating the use of microRNAs in agricultural, industrial and clean technology applications, with a particular focus on improving feedstocks for biofuels and crops for agriculture. Rosetta Green has three patent applications covering the use of microRNAs in these areas.

"The capital raised through this IPO will allow Rosetta Green to further its important work in developing microRNAs for agricultural, industrial and clean technology applications," said Kenneth A. Berlin, president and chief executive officer of Rosetta Genomics. "Establishing Rosetta Green as a separate, publicly-traded entity provides access to the capital markets to fund important developments and allows Rosetta Green to benefit from its accomplishments going forward."

In connection with the IPO, Rosetta Genomics has entered into an agreement with Rosetta Green's minority shareholders, pursuant to which it has agreed to not sell any Rosetta Green shares for a period of 12 months following consummation of the IPO and thereafter until the termination of 24 months following consummation of the IPO, Rosetta Genomics will be entitled to sell up to 1% of its holdings per month (which may be carried over for up to three months).