Company also issues five-year warrants; Palladium Capital was agent
By Devika Patel
Knoxville, Tenn., Feb. 21 - Alliqua, Inc. completed a $1.05 million private placement of stock on Feb. 16, according to an 8-K filed Tuesday with the Securities and Exchange Commission. Palladium Capital Advisors, LLC was the agent.
The company sold 21 million common shares at $0.05 per share. The price per share reflects a 28.57% discount to the Feb. 15 closing share price of $0.07.
Investors also received warrants for 10.5 million shares, which are each exercisable at $0.069 for five years. The strike price is a 1.43% discount to the Feb. 15 price.
The biomedical products company is based in New York.
| Issuer: | Alliqua, Inc.
|
| Issue: | Common stock
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| Amount: | $1.05 million
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| Shares: | 21 million
|
| Price: | $0.05
|
| Warrants: | For 10.5 million shares
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| Warrant expiration: | Five years
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| Warrant strike price: | $0.069
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| Agent: | Palladium Capital Advisors, LLC
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| Settlement date: | Feb. 16
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| Stock symbol: | OTCBB: ALQA
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| Stock price: | $0.07 at close Feb. 15
|
| Market capitalization: | $13.8 million
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