By Devika Patel
Knoxville, Tenn., Jan. 12 - DOR BioPharma, Inc. said it arranged a $2.28 million private placement of stock.
The company will sell 20 million common shares at $0.114 apiece and warrants for 20 million shares.
Each warrant is exercisable at $0.14 for five years. The warrants may expire sooner if certain conditions are met.
Miami-based DOR BioPharma develops cancer treatments and treatments for gastrointestinal diseases, as well as vaccines for bioterrorism agents.
| Issuer: | DOR BioPharma, Inc.
|
| Issue: | Common stock
|
| Amount: | $2.28 million
|
| Shares: | 20 million
|
| Price: | $0.114
|
| Warrants: | For 20 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.14
|
| Pricing date: | Jan. 12
|
| Stock symbol: | OTCBB: DORB
|
| Stock price: | $0.13 at close Jan. 9
|
| Market capitalization: | $11.2 million
|
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