Shares, warrants sold at $1.00 per unit; proceeds fund working capital
By Devika Patel
Knoxville, Tenn., Feb. 27 - Arrogene, Inc. settled a $130,000 private placement of units between Feb. 8 and Feb. 14, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
Arrogene sold 130,000 units of one common share and two five-year warrants at $1.00 per unit. The warrants are exercisable at $1.50 and $2.00.
Proceeds will be used for working capital.
The Santa Monica, Calif., company is building a pipeline of new generation nanomedicines in conjunction with Cedar Sinai Medical Center that are capable of targeting cancer cells and preventing tumor growth.
| Issuer: | Arrogene, Inc.
|
| Issue: | Units of one common share and two warrants
|
| Amount: | $130,000
|
| Units: | 130,000
|
| Price: | $1.00
|
| Warrants: | Two warrants per unit
|
| Warrant expiration: | Five years
|
| Warrant strike prices: | $1.50, $2.00
|
| Settlement date: | Between Feb. 8 and Feb. 14
|
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