Investors also to receive 1.75 million warrants, exercisable at $0.102
By Devika Patel
Knoxville, Tenn., Jan. 5 - Uluru Inc. will conduct a registered direct offering of stock, according to a prospectus supplement filed Wednesday with the Securities and Exchange Commission. The deal will raise $500,000.
The company will sell 5 million common shares at $0.10 apiece. The price per share is identical to the Jan. 4 closing share price of $0.10.
Investors also will receive warrants for 1.75 million shares. Each warrant is exercisable at $0.102 for five years. The strike price reflects a 2% premium to the Jan. 4 closing share price.
Rodman & Renshaw, LLC is the agent.
Proceeds will be used for general corporate purposes and working capital.
Uluru, based in Addison, Texas, develops wound management, plastic surgery and oral care products.
| Issuer: | Uluru Inc.
|
| Issue: | Common stock
|
| Amount: | $500,000
|
| Shares: | 5 million
|
| Price: | $0.10
|
| Warrants: | For 1.75 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.102
|
| Agent: | Rodman & Renshaw, LLC
|
| Pricing date: | Jan. 5
|
| Stock symbol: | Amex: ULU
|
| Stock price: | $0.10 at close Jan. 4
|
| Market capitalization: | $8.21 million
|
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