By Devika Patel
Knoxville, Tenn., Jan. 13 - Alseres Pharmaceuticals, Inc. announced a $1 million private placement of shares that priced Thursday.
The company will sell 1 million shares at $1.00 apiece to Robert Gipson. Gipson also agreed to cancel a warrant that had been previously issued to him for 543,478 shares, exercisable at $1.84.
Proceeds will be used to fund research and development programs and otherwise for general corporate purposes.
Based in Hopkinton, Mass., Alseres is engaged in the development of therapeutic and diagnostic products primarily for disorders in the central nervous system.
| Issuer: | Alseres Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $1 million
|
| Shares: | 1 million
|
| Price: | $1.00
|
| Warrants: | No
|
| Investor: | Robert Gipson
|
| Pricing date: | Jan. 8
|
| Stock symbol: | Nasdaq: ALSE
|
| Stock price: | $1.25 at close Jan. 8
|
| Market capitalization: | $25 million
|
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