Company offers restricted common shares along with seven-year warrants
By Devika Patel
Knoxville, Tenn., June 27 - Aethlon Medical, Inc. settled a $592,000 private placement of stock on June 19, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company sold 8,222,222 restricted common shares at $0.072 apiece. The per-share price represents a 20% discount to the June 18 closing share price of $0.09 and is also 80% of the average closing price of the stock for the five-day period preceding the settlement date, the company reported in the filing.
The lone investor also received one warrant for every two shares purchased. The warrants are each exercisable at $0.109 for seven years. The strike price is a 21.11% premium to the June 18 closing share price and is also 120% of the average of the closing prices of the stock for the five-day period preceding settlement.
Aethlon, based in San Diego, develops therapeutic medical devices to treat viral infections.
| Issuer: | Aethlon Medical, Inc.
|
| Issue: | Restricted common stock
|
| Amount: | $592,000
|
| Shares: | 8,222,222
|
| Price: | $0.072
|
| Warrants: | One warrant for every two shares purchased
|
| Warrant expiration: | Seven years
|
| Warrant strike price: | $0.109
|
| Settlement date: | June 19
|
| Stock symbol: | OTCBB: AEMD
|
| Stock price: | $0.09 at close June 18
|
| Market capitalization: | $8.93 million
|
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