By Sheri Kasprzak
New York, Nov. 14 - Starpharma Holdings Ltd. said it has settled a A$12 million private placement.
The company issued 23,529,411 shares at A$0.51 each to institutional investors.
Patersons Securities was the placement agent for the offering.
Starpharma also intends to conduct a share purchase plan for up to A$3 million from Nov. 22 through Dec. 15.
Proceeds will be used for the development of its VivaGel product.
Based in Melbourne, Australia, Starpharma is a biopharmaceutical company focused on developing drugs used to prevent the spread of sexually transmitted diseases.
| Issuer: | Starpharma Holdings Ltd.
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| Issue: | Stock
|
| Amount: | A$12 million
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| Shares: | 23,529,411
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| Price: | A$0.51
|
| Warrants: | No
|
| Placement agent: | Patersons Securities
|
| Settlement date: | Nov. 14
|
| Stock price: | A$0.585 at close Nov. 14
|
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