Oxygen Biotherapeutics to sell 6,000 preferreds in public offering

Series C convertible preferreds sold with warrants at $1,000 per unit

By Devika Patel

Knoxville, Tenn., July 17 - Oxygen Biotherapeutics, Inc. will sell 6,000 8% series C convertible preferred shares in a public sale of units, according to a Form S-1 filed Wednesday with the Securities and Exchange Commission. The deal was announced on March 22.

Each unit consists of one preferred and one warrant. Each preferred is convertible into common shares. The units will each be priced at $1,000.

Ladenburg Thalmann & Co. Inc. is the agent.

Proceeds will be used for clinical trials and efforts to obtain regulatory approval for Oxycyte, developing other product candidates, manufacturing Oxycyte, distribution for Dermacyte, research and development and general corporate purposes.

The Morrisville, N.C., company develops biotechnology products with a focus on oxygen delivery to tissue.

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