OXIS International eyes $10 million public sale of two types of units

Stock, convertible preferreds sold with warrants by Rodman & Renshaw

By Devika Patel

Knoxville, Tenn., Aug. 24 – OXIS International, Inc. will price a $10 million public sale of class A units and class B units, according to a form S-1 filed Wednesday with the Securities and Exchange Commission. The company has registered up to $15 million of underlying stock.

The class A units will consist of common stock and warrants, and the class B units will consist of series J convertible preferred stock and warrants. Each preferred is convertible into 10 common shares.

Rodman & Renshaw is the bookrunner.

Proceeds will be used for general corporate purposes and working capital.

Based in Foster City, Calif., Oxis develops clinical and research assays, diagnostics and nutriceutical and therapeutic products.

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