By Sheri Kasprzak
New York, Jan. 10 - Crdentia Corp. said it completed a private placement of stock and convertible debentures for $4 million.
The company sold 3,333,333 shares at $0.60 each and $2 million in convertible debentures.
The 8% debentures mature in three years and are convertible into shares at $0.60 each.
With the debentures, the investors received warrants equal to half of the shares issuable upon conversion of the debentures. The warrants are exercisable at $0.60 each for five years.
Dawson James Securities, Inc. was the placement agent.
Proceeds will be used for debt retirement and working capital.
Based in Dallas, Crdentia provides staffing services to the health care sector.
| Issuer: | Crdentia Corp.
|
| Issue: | Stock
|
| Amount: | $2 million
|
| Shares: | 3,333,333
|
| Price: | $0.60
|
| Warrants: | No
|
| Placement agent: | Dawson James Securities, Inc.
|
| Settlement date: | Jan. 10
|
| Stock price: | $1.60 at close Jan. 10
|
|
|
| Issuer: | Crdentia Corp.
|
| Issue: | Convertible debentures
|
| Amount: | $2 million
|
| Maturity: | Three years
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Conversion price: | $0.60
|
| Warrants: | Equal to half of the shares issuable upon conversion
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.60
|
| Placement agent: | Dawson James Securities, Inc.
|
| Settlement date: | Jan. 10
|
| Stock price: | $1.60 at close Jan. 10
|
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