Deal sells 1.5 million common shares at $0.25 with 375,000 warrants
By Devika Patel
Knoxville, Tenn., June 6 – BioRestorative Therapies, Inc. settled a $375,000 private placement of stock between May 22 and June 4, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 1.5 million common shares at $0.25 apiece. The price per share is a 50% discount to the May 21 closing share price of $0.50.
Investors also received warrants for 375,000 shares. The five-year warrants are exercisable at $0.75 and $0.30, a respective 59% premium and 40% discount to the May 21 closing share price.
Based in Jupiter, Fla., BioRestorative is a life sciences company focused on cellular therapies for various personal medical applications.
| Issuer: | BioRestorative Therapies, Inc.
|
| Issue: | Common stock
|
| Amount: | $375,000
|
| Shares: | 1.5 million
|
| Price: | $0.25
|
| Warrants: | For 375,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.75, $0.30
|
| Settlement date: | May 22 to June 4
|
| Stock symbol: | OTCBB: BRTX
|
| Stock price: | $0.50 at close May 21
|
| Market capitalization: | $9.32 million
|
|
|
© 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.
