By Devika Patel
Knoxville, Tenn., July 9 - Crdentia Corp. announced in a press release that it took in $1 million from a private placement of stock.
The company also said it has expanded its accounts receivable-based revolving credit facility to $7.5 million from $5.2 million and revised and expanded existing term loans, including a new $1.5 million debt investment.
In the private placement, the company sold 3,333,333 shares at $0.30 each along with warrants for 1,666,667 shares. The warrants are each exercisable at $0.35 for five years.
Proceeds will be used general working capital purposes.
Dallas-based Crdentia is a health care staffing service.
| Issuer: | Crdentia Corp.
|
| Issue: | Common stock
|
| Amount: | $999,999.90
|
| Shares: | 3,333,333
|
| Price: | $0.30
|
| Warrants: | For 1,666,667 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.35
|
| Settlement date: | July 9
|
| Stock symbol: | OTCBB: CRDT
|
| Stock price: | $0.15 at close July 9
|
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