By Sheri Kasprzak
New York, June 7 - Osteologix, Inc. closed a private placement for $5.05 million.
The company sold 1,912,877 units at $2.64 each to new and existing investors including Biotechnology Value Fund.
The other investors include Biotechnology Value Fund II, LP; BVF Investments LLC; and Investment 10, LLC.
Rodman & Renshaw and Roth Capital are the placement agents.
The units are comprised of two shares and one warrant. Each warrant is exercisable at $1.20 through Aug. 31, 2008.
San Francisco-based Osteologix develops treatments for bone disease and women's health issues.
| Issuer: | Osteologix, Inc.
|
| Issue: | Units of two shares and one warrant
|
| Amount: | $5.05 million
|
| Units: | 1,912,877
|
| Price: | $2.64
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Aug. 31, 2008
|
| Warrant strike price: | $1.20
|
| Investors: | Biotechnology Value Fund; Biotechnology Value Fund II, LP; BVF Investments LLC; Investment 10, LLC
|
| Placement agents: | Rodman & Renshaw, Roth
|
| Pricing date: | June 4
|
| Settlement date: | June 6
|
| Stock symbol: | OTCBB: OLGX
|
| Stock price: | $0.93 at close June 6
|
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