By Devika Patel
Knoxville, Tenn., June 19 - Advanced Life Sciences Holdings, Inc. settled a $15 million two-year standby equity distribution agreement with YA Global Master SPV Ltd. on June 19, according to an 8-K filed Friday with the Securities and Exchange Commission.
The shares will be sold at a 5% discount.
The amount of each advance is generally limited to $600,000 in any weekly period.
There are no minimum commitments or minimum use penalties.
Advanced Life Sciences is a biopharmaceutical company based in Woodbridge, Ill.
| Issuer: | Advanced Life Sciences Holdings, Inc.
|
| Issue: | Standby equity distribution agreement
|
| Amount: | $15 million
|
| Tenor: | Two years
|
| Price: | 95% of market price
|
| Warrants: | No
|
| Investor: | YA Global Master SPV Ltd.
|
| Settlement date: | June 19
|
| Stock symbol: | OTCBB: ADLS
|
| Stock price: | $0.57 at close June 19
|
| Market capitalization: | $26.2 million
|
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