By Angela McDaniels
Tacoma, Wash., Nov. 18 - Starpharma Holdings Ltd. sold A$15.6 million of shares through a private placement, according to a company news release.
The company sold 30 million shares for A$0.52 each, a 9.7% discount to the volume-weighted average price of its shares over the prior 20 trading days.
The placement was managed by Shaw Corporate Finance.
Proceeds will be used to finance a clinical trial program for VivaGel for the treatment of bacterial vaginosis and to further strengthen the company's balance sheet.
Starpharma is a biotechnology company located in Melbourne, Australia.
| Issuer: | Starpharma Holdings Ltd.
|
| Issue: | Shares
|
| Amount: | A$15.6 million
|
| Shares: | 30 million
|
| Price: | A$0.52
|
| Warrants: | No
|
| Manager: | Shaw Corporate Finance
|
| Settlement date: | Nov. 18
|
| Stock symbol: | Australia: SPL
|
| Stock price: | A$0.58 at close Nov. 18
|
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