By Sheri Kasprzak
New York, Jan. 6 - Akesis Pharmaceuticals, Inc. said it has completed the $350,000 first tranche of a $4 million private placement.
The company sold 175,000 shares at $2.00 each to accredited investors.
The investors also received warrants for 87,500 shares, exercisable at $3.00 each for three years.
Akesis intends to sell the remaining 1,825,000 shares by Feb. 15. The company will issue a total of 1 million warrants in the offering.
Based in LaJolla, Calif., Akesis is a biopharmaceuticals company focused on treatments for diabetes and metabolic disorders.
| Issuer: | Akesis Pharmaceuticals, Inc.
|
| Issue: | Stock
|
| Amount: | $4 million
|
| Shares: | 2 million
|
| Price: | $2.00
|
| Warrants: | For 1 million shares
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $3.00
|
| Settlement date: | Dec. 30
|
| Stock price: | $2.00 at close Dec. 30
|
|
|
© 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.
