By Sheri Kasprzak
Atlanta, June 1 - A-Fem Medical Corp. has wrapped a private placement for $1,083,239.
The company sold 2,166,479 shares at $0.50 each to accredited investors.
The investors also received a warrant for half of the number of shares purchased by that investor. The warrants are exercisable at $0.85 each for five years.
A-Fem may redeem the warrants at $0.01 each if its stock closes above $1.70 per share for 20 consecutive trading days.
In connection with the private placement, the investors bought restricted shares from an existing shareholder at $0.185 each. The shareholder sold 537,093 restricted common shares for proceeds of $99,363.
Based in Ambler, Pa., A-Fem develops women's health products. The proceeds will be used for working capital.
| Issuer: | A-Fem Medical Corp.
|
| Issue: | Stock
|
| Amount: | $1,083,239
|
| Shares: | 2,166,479
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| Price: | $0.50
|
| Warrants: | For 50% of shares issued in the offering
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.85
|
| Settlement date: | May 27
|
| Stock price: | $0.33 at close May 27
|
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