By Devika Patel
Knoxville, Tenn., March 31 - Osteologix, Inc. announced it has negotiated a $5.32 million private placement of stock and warrants.
The company will sell 4.03 million common shares at $1.32 per share. Investors also will receive warrants for 2,015,000 shares, which are exercisable at $1.32 until Sept. 30, 2009.
Nordic Biotech Opportunity Fund K/S agreed to buy approximately 75% of the shares and warrants for $4 million.
Settlement is expected April 17.
Proceeds will be used for general corporate purposes, corporate operating expenses, working capital and capital expenditures.
San Francisco-based Osteologix develops treatments for bone disease and women's health issues.
| Issuer: | Osteologix, Inc.
|
| Issue: | Common stock, warrants
|
| Amount: | $5,319,600
|
| Shares: | 4.03 million
|
| Price: | $1.32
|
| Warrants: | For 2,015,000 shares
|
| Warrant expiration: | Sept. 30, 2009
|
| Warrant strike price: | $1.32
|
| Investor: | Nordic Biotech Opportunity Fund K/S (for $4 million)
|
| Pricing date: | March 31
|
| Settlement date: | April 17
|
| Stock symbol: | OTCBB: NFSE
|
| Stock price: | $2.80 at close March 28
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
