By Sheri Kasprzak
Atlanta, May 20 - Lifeline Therapeutics Inc. raised $2,871,438 in a private placement.
The company sold 1,435,719 series A common shares at $2.00 each to accredited investors.
The investors also received warrants for 1,435,719 shares of series A common stock, exercisable at $2.50 each through April 18, 2008.
Of the $2,871,438 raised in the offering, $2,326,627 was received in cash with the remaining $544,804 in stock and warrants issued to cancel a bridge note.
Keating Securities LLC was the placement agent in the offering.
Lifeline, based in Denver, produces dietary supplements used to combat aging.
| Issuer: | Lifeline Therapeutics Inc.
|
| Issue: | Series A common shares
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| Amount: | $2,871,438
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| Shares: | 1,435,719
|
| Price: | $2.00
|
| Warrants: | For 1,435,719 shares
|
| Warrant expiration: | April 18, 2008
|
| Warrant strike price: | $2.50
|
| Placement agent: | Keating Securities LLC
|
| Settlement date: | May 16
|
| Stock price: | $6.25 at close May 16
|
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