By Sheri Kasprzak
New York, March 22 - Aethlon Medical, Inc. concluded an $8.4 million common stock purchase agreement with Fusion Capital Fund II, LLC.
Under the terms of the 25-month equity line, Fusion may buy shares of Aethlon at the lesser of $0.30 each, the lowest sale price of the company's stock on the filing date of the registration statement and the average of the three lowest closing sale prices of the company's stock during the 12 trading days immediately before the filing date.
So far, Fusion has agreed to purchase $400,000 in shares within 10 business days.
Fusion may not purchase shares if the company's stock trades below $0.25.
Connected to the deal, the company issued to Fusion 1.05 million shares valued at $0.40 each as a commitment fee.
Aethlon, based in San Diego, develops therapeutic medical devices to treat viral infections.
| Issuer: | Aethlon Medical, Inc.
|
| Issue: | Common stock purchase agreement
|
| Amount: | $8.4 million
|
| Tenor: | 25 months
|
| Price: | The lesser of $0.30 each, the lowest sale price of the company's stock on the filing date of the registration statement or the average of the three lowest closing sale prices of the company's stock for the 12 trading days immediately before the filing date
|
| Warrants: | No
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| Investor: | Fusion Capital Fund II, LLC
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| Settlement date: | March 21
|
| Stock symbol: | OTCBB: AEMD
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| Stock price: | $0.77 at close March 21
|
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