By Angela McDaniels
Tacoma, Wash., Sept. 29 - DOR BioPharma, Inc. completed a $4.39 million private placement of shares and warrants on Monday, according to an 8-K filed with the Securities and Exchange Commission on Tuesday.
The company sold 17,352,569 shares of its common stock for $0.253 each. The investors also received 8,676,285 warrants that are exercisable at $0.278 per share for five years.
Sigma-Tau Pharmaceuticals, Inc., the company's largest stockholder, invested $1 million in the placement.
Proceeds will be used for working capital and general corporate purposes.
DOR BioPharma is a biopharmaceutical company based in Princeton, N.J.
| Issuer: | DOR BioPharma, Inc.
|
| Issue: | Common stock
|
| Amount: | $4.39 million
|
| Shares: | 17,352,569
|
| Price: | $0.253
|
| Warrants: | 8,676,285
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.278
|
| Investor: | Sigma-Tau Pharmaceuticals, Inc. (for $1 million)
|
| Pricing date: | Sept. 23
|
| Settlement date: | Sept. 28
|
| Stock symbol: | OTCBB: DORB
|
| Stock price: | $0.27 at close Sept. 29
|
| Market capitalization: | $45.2 million
|
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