Pharmaceutical company gets three-year funding from Southridge
By Devika Patel
Knoxville, Tenn., Sept. 21 - Curaxis Pharmaceutical Corp. arranged a $25 million private equity credit agreement with Southridge Partners II LLP on Sept. 16, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
Under the terms of the three-year agreement, Southridge may buy shares of Imaging at a price per share equal to 95% of the three lowest closing bid prices for the five trading days following a drawdown notice.
The pharmaceutical company is based in Durham, N.C.
| Issuer: | Curaxis Pharmaceutical Corp.
|
| Issue: | Private equity credit agreement
|
| Amount: | $25 million
|
| Tenor: | Three years
|
| Price: | 95% of the lowest closing bid price for the five trading days following a drawdown notice
|
| Warrants: | No
|
| Investor: | Southridge Partners II LLP
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| Settlement date: | Sept. 16
|
| Stock symbol: | OTCBB: CURX
|
| Stock price: | $1.45 at close Sept. 16
|
| Market capitalization: | $102.36 million
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