Conversion would result in 2,187,500 shares at price of $0.80
By Susanna Moon
Chicago, Jan. 25 – Lixte Biotechnology Holdings, Inc. said a major shareholder has purchased $1.75 million of convertible preferred stock. If fully converted, the purchase would convert to 2,187,500 common shares at a price of $0.80 per share.
“This new investment allows Lixte to pursue opportunities that have emerged regarding our lead anticancer compound, LB-100,” John S. Kovach, Lixte’s chief executive officer, said in a company news release.
Lixte is a cancer therapeutics and diagnostics company based in East Setauket, N.Y.
| Issuer: | Lixte Biotechnology Holdings, Inc.
|
| Issue: | Convertible preferred stock
|
| Amount: | $1.75 million
|
| Conversion rate: | For 2,187,500 common shares
|
| Conversion price: | $0.80
|
| Conversion premium: | 263.63%
|
| Warrants: | No
|
| Announcement date: | Jan. 25
|
| Stock symbol: | Nasdaq: LIXT
|
| Stock price: | $0.22 at close Jan. 24
|
| Market capitalization: | $10.53 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
