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OccuLogix plans private placement for up to $30 million
By Sheri Kasprzak
New York, July 3 - OccuLogix, Inc. is negotiating a private placement for up to $30 million.
The share price will be based upon the average trading price at the time of purchase with a minimum price of $1.05 per share.
JEGC OCC Corp. will be the investor for the deal, the exact terms of which have not been set.
Boston-based OccuLogix develops ophthalmic devices to treat age-related eye diseases.
On Tuesday, the company's stock gained 7 cents, or 6.73%, to close at $1.11 (Nasdaq: OCCX).
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