Lincoln Park will buy common stock in tranches of up to 50,000 shares
By Devika Patel
Knoxville, Tenn., Oct. 26 – OncBioMune Pharmaceuticals, Inc. arranged a $10 million stock purchase agreement with Lincoln Park Capital Fund, LLC on Oct. 20, according to an 8-K filed Monday with the Securities and Exchange Commission. Lincoln Park bought 333,334 shares at pricing for $100,000.
The company will sell common shares to Lincoln Park over three years in tranches of up to 50,000 shares or up to $500,000. The purchase price of the shares will be based on the prevailing market prices at the time of sale.
As consideration for its commitment, Lincoln Park received 1 million shares.
Proceeds will be used for general corporate purposes and working capital requirements.
The biopharmaceutical company is based in Baton Rouge, La.
| Issuer: | OncBioMune Pharmaceuticals, Inc.
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| Issue: | Stock purchase agreement
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| Amount: | $10 million
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| Tenor: | Three years
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| Warrants: | No
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| Investor: | Lincoln Park Capital Fund, LLC
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| Fees: | 1 million shares
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| Pricing date: | Oct. 20
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| Settlement date: | Oct. 20 (for $100,000)
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| Stock symbol: | OTCBB: OBMP
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| Stock price: | $1.40 at close Oct. 19
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| Market capitalization: | $5.08 million
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