By Sheri Kasprzak
New York, April 19 - Avax Technologies, Inc. closed a $10,007,500 private placement.
The company sold to institutional and individual investors 80.06 million units of one share and one warrant at $0.125 each.
The warrants are exercisable at $0.15 each through April 13, 2012.
Proceeds will be used for working capital.
Based in Philadelphia, Avax is a biotech company focused on vaccine therapies and cancer treatments.
| Issuer: | Avax Technologies, Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | $10,007,500
|
| Units: | 80.06 million
|
| Price: | $0.125
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | April 13, 2012
|
| Warrant strike price: | $0.15
|
| Settlement date: | April 13
|
| Stock symbol: | OTCBB: AVXT
|
| Stock price: | $0.25 at close April 13
|
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