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HemoBioTech to redeem outstanding class A warrants from 2004 PIPE
By Sheri Kasprzak
New York, June 12 - HemoBioTech, Inc. said it will redeem the outstanding class A warrants issued in an October 2004 private placement.
The warrants will be redeemed at $0.001 each on July 14.
A total of 2,948,495 class A warrants remain outstanding. If the warrants are exercised before the redemption date, the company will receive another $3,125,404.70 in proceeds.
So far, a total of 2,345,665 class A warrants have been exercised for proceeds of $2,486,404.90.
Based in Dallas, HemoBioTech develops a blood substitute used in transfusions.
On Monday, the stock closed down 10.42%, or 25 cents, at $2.15 (OTCBB: HMBT).
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