Deal sells 9,875,000 units of one share, one warrant at $0.50 per unit
By Devika Patel
Knoxville, Tenn., April 6 – Matinas BioPharma Holdings, Inc. raised $4.94 million in a private placement of units on March 31, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 9,875,000 units of one common share and one warrant at $0.50 per unit.
The five-year warrants will each be exercisable at $0.75, a 22.95% premium to $0.61, the March 30 closing share price.
Matinas is a Bedminster, N.J., biopharmaceutical company.
| Issuer: | Matinas BioPharma Holdings, Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $4,937,500
|
| Units: | 9,875,000
|
| Price: | $0.50
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.75
|
| Settlement date: | March 31
|
| Stock symbol: | OTCBB: MTNB
|
| Stock price: | $0.61 at close March 30
|
| Market capitalization: | $25.83 million
|
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