Company sells common shares at $2.50 each, preferreds at $25.00 each
By Devika Patel
Knoxville, Tenn., Oct. 13 - MediciNova, Inc. released further details about a $7.5 million private placement of stock it conducted with Kissei Pharmaceutical Co., Ltd. in an 8-K filed Thursday with the Securities and Exchange Commission. The deal was announced Oct. 12 and settled on Oct. 13.
The company sold 800,000 common shares at $2.50 apiece for $2 million. The price per share is a 21.95% premium to $2.05, the Oct. 12 closing share price.
Kissei also bought 220,000 series B convertible preferred shares at $25.00 per preferred.
MediciNova is San Diego biopharmaceutical company.
| Issuer: | MediciNova, Inc.
|
| Issue: | Common stock, series B convertible preferred stock
|
| Amount: | $7.5 million
|
| Warrants: | No
|
| Investor: | Kissei Pharmaceutical Co., Ltd.
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| Announcement date: | Oct. 12
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| Settlement date: | Oct. 13
|
| Stock symbol: | Nasdaq: MNOV
|
| Stock price: | $2.05 at close Oct. 13
|
| Market capitalization: | $31.33 million
|
|
|
| Common shares
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| Amount: | $2 million
|
| Shares: | 800,000
|
| Price: | $2.50
|
|
|
| Preferreds
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| Amount: | $5.5 million
|
| Preferreds: | 220,000
|
| Price: | $25.00
|
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