By Laura Lutz
Des Moines, Oct. 29 - Crdentia Corp. raised $4.7 million from the first tranche of a private placement of stock that may raise up to C$7.5 million.
The company sold 15,666,667 shares for $0.30 each on Friday. The tranche also included warrants for 7,833,333 shares.
The warrants are exercisable at $0.35 for five years.
The purchase agreement allows for additional closings up to 10 business days after the initial closing.
C. Fred Toney, the chairman of the company's board, invested $1.85 million in the private placement.
Dallas-based Crdentia is a health care staffing service.
| Issuer: | Crdentia Corp.
|
| Issue: | Stock
|
| Amount: | $4.7 million
|
| Shares: | 15,666,667
|
| Price: | $0.30
|
| Warrants: | For 7,833,333 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.35
|
| Investor: | C. Fred Toney (for $1.85 million)
|
| Settlement date: | Oct. 26
|
| Stock symbol: | OTCBB: CRDT
|
| Stock price: | $0.33 at close Oct. 26
|
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