Published on 10/10/2006 in the Prospect News Biotech Daily and Prospect News PIPE Daily.
New Issue: IR Biosciences wraps $2.27 million private placement of units
By Sheri Kasprzak
New York, Oct. 10 - IR Biosciences Holdings, Inc. settled a $2,276,500 private placement.
The company sold 91.06 units at $25,000 each.
Each unit includes 156,250 common shares and a warrant for 78,125 shares.
The warrants are exercisable at $0.50 each for five years.
IR Biosciences, based in Scottsdale, Ariz., is a biotechnology company focused on treatments for radiation exposure.
Issuer: | IR Biosciences Holdings, Inc.
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Issue: | Units of 156,250 shares and warrants for 78,125 shares
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Amount: | $2,276,500
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Units: | 91.06
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Price: | $25,000
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Warrants: | For 78,125 shares per unit
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Warrant expiration: | Five years
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Warrant strike price: | $0.50
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Settlement date: | Oct. 4
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Stock symbol: | OTCBB: IRBO
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Stock price: | $0.20 at close Oct. 4
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