William Blair helps sell 8.51 million common shares with warrants
By Devika Patel
Knoxville, Tenn., June 5 - Bacterin International Holdings, Inc. negotiated a private placement of stock to raise about $4.85 million on June 5, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The company will sell about 8.51 million common shares at $0.57 per share, which is a 9.52% discount to the June 4 closing share price of $0.63.
Investors also received warrants for about 4.25 million shares, which are each exercisable at $0.72 for seven years. The strike price is a 14.29% premium to the June 4 closing share price.
William Blair & Co., LLC is the agent.
Settlement is expected June 10.
The developer of biologics products for medical applications is based in Belgrade, Mont.
| Issuer: | Bacterin International Holdings, Inc.
|
| Issue: | Common stock
|
| Amount: | $4.85 million (approximate)
|
| Shares: | 8.51 million (approximate)
|
| Price: | $0.57
|
| Warrants: | For about 4.25 million shares
|
| Warrant expiration: | Seven years
|
| Warrant strike price: | $0.72
|
| Agent: | William Blair & Co., LLC
|
| Pricing date: | June 5
|
| Settlement date: | June 10
|
| Stock symbol: | NYSE: BONE
|
| Stock price: | $0.63 at close June 4
|
| Market capitalization: | $25.66 million
|
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