Company issues five-year warrants for 1,811,847 shares to investors
By Devika Patel
Knoxville, Tenn., Nov. 19 - Alliqua, Inc. completed a $6 million private placement of stock with Celgene Corp. on Nov. 18, according to an 8-K filed Tuesday with the Securities and Exchange Commission. The deal priced on Nov. 14. The company also raised $7 million in a separate, identical placement with other investors.
The company sold 3,623,694 common shares at about $3.59 per share.
The investors also received warrants for 1,811,847 shares, with Celgene receiving warrants for 836,237 shares. The warrants are each exercisable at $5.69 for five years.
The biomedical products company is based in Langhorne, Pa.
| Issuer: | Alliqua, Inc.
|
| Issue: | Common stock
|
| Amount: | $13 million
|
| Shares: | 3,623,694
|
| Price: | $3.59 (approximate)
|
| Warrants: | For 1,811,847 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $5.69
|
| Investor: | Celgene Corp. (for $6 million)
|
| Pricing date: | Nov. 14
|
| Settlement date: | Nov. 18
|
| Stock symbol: | OTCBB: ALQAD
|
| Stock price: | $0.08 at close Nov. 13
|
| Market capitalization: | $1.31 billion
|
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