Published on 3/1/2010 in the Prospect News PIPE Daily.
New Issue: Dara BioSciences seals $1.72 million private placement of equity units
By Devika Patel
Knoxville, Tenn., March 1 - Dara BioSciences, Inc. settled a $1.72 million private placement of units on Feb. 26, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 3,652,136 units of one common share and one half-share warrant at $0.47 apiece. Each whole warrant is exercisable at $0.47 for five years.
Based in Raleigh, N.C., Dara is a pharmaceutical company that acquires therapeutic molecules and medical technologies.
| Issuer: | Dara BioSciences, Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | $1,716,500
|
| Units: | 3,652,136
|
| Price: | $0.47
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.47
|
| Settlement date: | Feb. 26
|
| Stock symbol: | Nasdaq: DARA
|
| Stock price: | $0.65 at close Feb. 26
|
| Market capitalization: | $23.7 million
|
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