Company also issues five-year warrants, each exercisable at $0.097
By Devika Patel
Knoxville, Tenn., June 6 - Alliqua, Inc. completed a $288,000 final tranche of a $1.1 million private placement of stock on May 31, according to an 8-K filed Thursday with the Securities and Exchange Commission. It raised another $576,000 on April 22 and $236,000 on April 11. Laidlaw & Co. (UK) Ltd. was the agent for the deal, which was slated to raise up to $3 million.
The company sold 2,913,580 common shares at $0.081 per share in the first tranche, 7,111,111 shares in the second tranche and 3,555,556 shares in the third tranche for a total of 13,580,247 shares. The price per share is a 1.25% premium to the April 10 closing share price of $0.08.
Investors also received warrants for 2,913,580 shares in the first tranche, warrants for 7,111,111 shares in the second tranche and warrants for 3,555,556 shares in the third tranche. Each warrant is exercisable at $0.097 for five years. The strike price is a 21.25% premium to the April 10 price.
The biomedical products company is based in New York.
| Issuer: | Alliqua, Inc.
|
| Issue: | Common stock
|
| Amount: | $1.1 million
|
| Shares: | 13,580,247
|
| Price: | $0.081
|
| Warrants: | For 13,580,247 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.097
|
| Agent: | Laidlaw & Co. (UK) Ltd.
|
| Settlement date: | April 11 (for $236,000), April 22 (for $576,000), May 31 (for $288,000)
|
| Stock symbol: | OTCBB: ALQA
|
| Stock price: | $0.08 at close April 10
|
| Market capitalization: | $17.01 million
|
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