Shares sold at $2.50 apiece; deal funds general corporate purposes
By Devika Patel
Knoxville, Tenn., April 12 - Ampio Pharmaceuticals, Inc. concluded a second $2.76 million tranche of a private placement of stock, according to an 8-K filed Monday with the Securities and Exchange Commission. The first tranche of the deal settled for $6.27 million on March 31, for a total of $9.04 million.
In the first tranche, the company sold 2,509,447 common shares at $2.50 per share, a 15.25% discount to the March 30 closing share price of $2.95. It sold 1,105,753 shares at that price in the second closing.
Proceeds will be used for general corporate purposes, including funding clinical trials, intellectual property protection, and general and administrative expenses.
The Greenwood Village, Colo., company develops proprietary drugs for metabolic disease, eye disease, kidney disease, inflammation and CNS disease.
| Issuer: | Ampio Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $9,038,000
|
| Shares: | 3,615,200
|
| Price: | $2.50
|
| Warrants: | No
|
| Settlement date: | March 31 (for $6,273,618), April 8 (for $2,764,383)
|
| Stock symbol: | OTCBB: AMPE
|
| Stock price: | $2.85 at close March 31
|
| Market capitalization: | $50.47 million
|
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