By Devika Patel
Knoxville, Tenn., June 7 - Harbor BioSciences Inc. plans a registered direct offering of stock for $2.06 million, according to a prospectus supplement filed Monday with the Securities and Exchange Commission.
The company will sell 5,895,000 common shares at $0.35 per share. Investors also will receive warrants for 3,537,000 shares, which are exercisable at $0.50 for five years.
Settlement is expected June 10.
Chardan Capital Markets, LLC is the agent.
Proceeds will be used for general corporate purposes.
The drug maker is based in San Diego.
| Issuer: | Harbor BioSciences Inc.
|
| Issue: | Common stock
|
| Amount: | $2,063,250
|
| Shares: | 5,895,000
|
| Price: | $0.35
|
| Warrants: | For 3,537,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.50
|
| Agent: | Chardan Capital Markets, LLC
|
| Pricing date: | June 7
|
| Settlement date: | June 10
|
| Stock symbol: | Nasdaq: HRBR
|
| Stock price: | $0.43 at close June 4
|
| Market capitalization: | $13 million
|
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