By Devika Patel
Knoxville, Tenn., Jan. 22 - Lixte Biotechnology Holdings, Inc. settled a $1.79 million private placement of units on Jan. 20, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 3,575,000 units of one common share and two three-year warrants at $0.50 per unit.
Of the two warrants, one is exercisable at $0.50 and the other at $0.75.
The company intends to use the proceeds to take one of its proprietary compounds into a clinical trial, develop a second compound, maintain and extend its patent positions and for working capital.
Based in East Setauket, N.Y., Lixte is a cancer therapeutics and diagnostics company.
| Issuer: | Lixte Biotechnology Holdings, Inc.
|
| Issue: | Units of one common share and two warrants
|
| Amount: | $1,787,500
|
| Units: | 3,575,000
|
| Price: | $0.50
|
| Warrants: | Two warrants per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | $0.50, $0.75
|
| Settlement date: | Jan. 20
|
| Stock symbol: | OTCBB: LIXT
|
| Stock price: | $0.49 at close Jan. 20
|
| Market capitalization: | $14.5 million
|
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