Company sells common shares with four-year warrants at $0.50 per unit
By Devika Patel
Knoxville, Tenn., Oct. 5 - AtheroNova Inc. settled a $2.5 million tranche of a $2.84 million private placement of units on Oct. 1, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 5 million units of one common share and a half-share warrant at $0.50 per unit. It plans to sell 670,000 additional units in future tranches.
The whole warrants are each exercisable at $0.625 for four years. The strike price is a 23.78% discount to the Sept. 28 closing share price of $0.82.
Settlement of the final tranche is expected Oct. 31.
AtheroNova, formerly Trist Holdings Inc., is a Van Nuys, Calif., development stage company that is developing products to address the treatment of atherosclerosis through the use of natural compounds and their derivatives.
| Issuer: | AtheroNova Inc.
|
| Issue: | Units of one common share and a half-share warrant
|
| Amount: | $2,835,000
|
| Units: | 5.67 million
|
| Price: | $0.50
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Four years
|
| Warrant strike price: | $0.625
|
| Settlement date: | Oct. 1 (for $2.5 million), Oct. 31 (final tranche)
|
| Stock symbol: | OTCBB: AHRO
|
| Stock price: | $0.82 at close Sept. 28
|
| Market capitalization: | $22.37 million
|
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