Deep Blue plans private placement for $37.5 million to $52 million

By Sheri Kasprzak

New York, Nov. 16 - Deep Blue, Inc. said it intends to raise up to $52 million and at least $37.5 million from a private placement.

The terms of the deal have not yet been determined, but the company has received a letter of interest of initial funding for the deal from a private equity group.

Before the deal closes, all parties must agree on the percentage equity stake and Deep Blue must agree to receive partial funding initially to allow the equity group to analyze its human trial data.

The deal is expected to close within 45 days.

Deep Blue, based in Las Vegas, develops treatments for HIV/AIDS and other infectious diseases.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.