By Laura Lutz
Des Moines, Jan. 10 - Amarillo Biosciences, Inc. raised $1 million from a private placement of preferreds with Firebird Global Master Fund, Ltd., according to a news release.
Firebird bought 1,000 shares of series A convertible preferred stock, which are convertible into a total of 4 million common shares.
The preferreds bear dividends at 10% per year.
Firebird also received warrants for 4 million common shares, exercisable at $0.30 per share.
Amarillo is a biotechnology company based in Amarillo, Texas.
| Issuer: | Amarillo Biosciences, Inc.
|
| Issue: | Convertible preferred stock
|
| Amount: | $1 million
|
| Preferreds: | 1,000
|
| Dividends: | 10%
|
| Price: | $1,000
|
| Conversion price: | $0.25
|
| Warrants: | For 4 million common shares
|
| Warrant strike price: | $0.30
|
| Investor: | Firebird Global Master Fund, Ltd.
|
| Announcement date: | Jan. 10
|
| Stock symbol: | OTCBB: AMAR
|
| Stock price: | $0.35 at close Jan. 9
|
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