By Devika Patel
Knoxville, Tenn., July 3 - Bio-Bridge Science, Inc. completed two private placements of units for $2.78 million, according to a company press release and an 8-K filed Thursday with the Securities and Exchange Commission.
On July 2, the company sold 3,448,276 units of one common share and one half-share warrant at $0.725 per unit to NFR International Pty Ltd. and China Diamond Ltd., companies controlled by a member of Bio-Bridge's board of directors, Trevor Roy.
Each five-year warrant will be exercisable at $1.10.
In June, the filing said, Bio-Bridge sold 366,667 units at $0.75 per unit to four investors. Each unit includes one common share, a three-year half-share warrant, exercisable at $0.75, and a five-year half-share warrant, exercisable at $1.20.
Proceeds will be used for general working capital purpose and to fund the company's vaccine development activities in China
Based in Oak Brook, Ill., Bio-Bridge develops treatments for infectious diseases.
| Issuer: | Bio-Bridge Science, Inc.
|
| Issue: | Units of one common share and one half-share warrant, units of one common share and two half-share warrants
|
| Amount: | $2,775,000.35
|
| Stock symbol: | OTCBB: BGES
|
| Stock price: | $1.75 at close July 2
|
|
|
| June deal
|
| Amount: | $275,000.25
|
| Units: | 366,667
|
| Price: | $0.75
|
| Warrants: | Two half-share warrants per unit
|
| Warrant expiration: | Three years (one half-share warrant), five years (other half-share warrant)
|
| Warrant strike price: | $0.75 (three-year warrant), $1.20 (five-year warrant)
|
| Settlement date: | June
|
|
|
| July deal
|
| Amount: | $2,500,000.10
|
| Units: | 3,448,276
|
| Price: | $0.725
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $1.10
|
| Investors: | NFR International Pty Ltd., China Diamond Ltd.
|
| Settlement date: | July 2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
