By Devika Patel
Knoxville, Tenn., Dec. 5 - OPKO Health, Inc. said it has conducted a private placement of stock, raising $20 million.
The company sold 10,869,565 common shares at $1.84 per share to the Frost Group.
The issued shares will be restricted securities, subject to a two-year lock-up, without registration rights.
Proceeds will be used for research and development and for general working capital.
Based in Miami, OPKO Health is a health care company.
| Issuer: | OPKO Health, Inc.
|
| Issue: | Common shares
|
| Amount: | $20 million
|
| Shares: | 10,869,565
|
| Price: | $1.84
|
| Warrants: | No
|
| Investor: | The Frost Group
|
| Settlement date: | Dec. 5
|
| Stock symbol: | Amex: OPK
|
| Stock price: | $2.70 at close Dec. 4
|
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