By Sheri Kasprzak
New York, Sept. 19 - Alteon, Inc. settled a $1,425,000 private placement.
The company sold 9.5 million units at $0.15 each.
The units include one share and one warrant. Each warrant is exercisable at $0.1875 each for five years. The warrants become exercisable six months after closing.
Rodman & Renshaw, LLC was the placement agent.
Based in Parsippany, N.J., Alteon is a biotechnology company focused on treatments for heart disease and diabetes.
| Issuer: | Alteon, Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | $1,425,000
|
| Units: | 9.5 million
|
| Price: | $0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.1875
|
| Placement agent: | Rodman & Renshaw, LLC
|
| Settlement date: | Sept. 13
|
| Stock symbol: | Amex: ALT
|
| Stock price: | $0.15 at close Sept. 13
|
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