Deal sells 1,106,120 common shares at $6.00 and also includes warrants
By Toni Weeks
San Luis Obispo, Calif., Jan. 13 - Actinium Pharmaceuticals Inc. said it raised $3.31 million on Monday in the final tranche of a $6.64 million private placement of stock and warrants. The deal priced for $6 million with a $636,700 greenshoe, which was fully exercised.
The company sold a total of about 1,106,120 common shares at $6.00 apiece. It sold 554,310 shares on Dec. 27, raising $3.33 million, and 551,810 shares on Jan. 13. The price per share is a 12.99% premium to the Dec. 26 closing share price of $5.31.
The investors also received warrants for 276,529 shares. Each five-year warrant is exercisable at $9.00, a 69.49% premium to the Dec. 26 closing share price.
Proceeds will be used for the further development of Iomab-B, a phase 3 clinical-stage bone-marrow condition agent used to prepare patients for hematopoietic stem cell transplantation, and Actimab-A, the company's lead drug candidate in multicenter phase 1 and 2 trials in Acute Myeloid Leukemia.
The biopharmaceutical company is based in New York.
| Issuer: | Actinium Pharmaceuticals Inc.
|
| Issue: | Common shares
|
| Amount: | $6,636,720 (including $636,700 greenshoe)
|
| Shares: | 1,106,120
|
| Price: | $6.00
|
| Warrants: | For 276,529 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $9.00
|
| Settlement dates: | Dec. 27 (for $3,325,860), Jan. 13 (for $3,310,860)
|
| Stock symbol: | OTCBB: ATNM
|
| Stock price: | $5.31 at close Dec. 26
|
| Market capitalization: | $146.67 million
|
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