By LLuvia Mares
New York, Aug. 15 - Isolagen, Inc. announced Wednesday a $13.8 million registered direct offering of common stock.
Isolagen will sell 6,767,647 million shares at $2.04 each to institutional investors. Settlement is expected Aug. 17.
The shares were offered under a shelf registration statement filed with the Securities and Exchangeable Commission.
Exton, Pa.-based Isolagen also submitted an application with the SEC to voluntarily withdraw a registration statement filed for a proposed exchange of $90 million of 3.5% in convertible subordinated notes due 2024. Wednesday.
Under that proposed exchange, holders could swap their notes for an equal amount of new 3.5% convertible senior notes due 2024. The company also planned to sell up to $30 million of additional new 3.5% convertibles.
Isolagen is a biotechnology company specializing in autologous cellular therapies for soft and hard tissue regeneration.
| Issuer: | Isolagen, Inc.
|
| Issue: | Stock
|
| Amount: | $13.806 million
|
| Shares: | 6,767,647
|
| Price: | $2.04
|
| Warrants: | No
|
| Pricing date: | Aug. 14
|
| Settlement date: | Aug. 17
|
| Stock symbol: | Amex: ILE
|
| Stock price: | $2.04 at close on Aug. 14
|
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