By Devika Patel
Knoxville, Tenn., Jan. 5 - Omni Bio Pharmaceutical Inc. arranged a $2.5 million private placement of units, according to an 8-K filed Tuesday with the Securities and Exchange Commission. It raised $365,000 on Dec. 29 and $25,000 on Dec. 31.
The company is selling up to 1 million units at $2.50 apiece. It sold 146,000 units on Dec. 29 and 10,000 units on Dec. 31.
Each unit consists of one common share and one warrant. Each warrant is exercisable at $3.75 for five years.
Proceeds will be used for research and development and for general working capital.
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| Issuer: | Omni Bio Pharmaceutical Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $2.5 million
|
| Units: | 1 million
|
| Price: | $2.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $3.75
|
| Settlement date: | Dec. 29 (for $365,000), Dec. 31 (for $25,000)
|
| Stock symbol: | OTCBB: OMBP
|
| Stock price: | $11.05 at close Dec. 29
|
| Market capitalization: | $322 million
|
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