By Devika Patel
Knoxville, Tenn., July 2 - Adeona Pharmaceuticals, Inc. plans a $1 million registered direct offering of stock, according to a prospectus supplement filed Friday with the Securities and Exchange Commission.
The company will sell 1,212,121 common shares at $0.825 apiece.
Settlement is expected July 2.
Enclave Capital LLC is the agent.
Proceeds will be used for working capital and general corporate purposes.
Adeona is an Ann Arbor, Mich., pharmaceutical company.
| Issuer: | Adeona Pharmaceuticals, Inc.
|
| Issue: | Common stock
|
| Amount: | $1 million
|
| Shares: | 1,212,121
|
| Price: | $0.825
|
| Warrants: | No
|
| Agent: | Enclave Capital LLC
|
| Pricing date: | July 2
|
| Settlement date: | July 2
|
| Stock symbol: | Amex: AEN
|
| Stock price: | $1.14 at close July 1
|
| Market capitalization: | $24.2 million
|
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