By Sheri Kasprzak
New York, Feb. 28 - Advanced Life Sciences Holdings, Inc. said it entered into agreements with institutional investors for $36,006,000 private placement.
The company will issue 10.2 million shares at $3.53 each on March 2.
The investors will receive warrants for 5.1 million shares, exercisable at $3.81 each for five years.
Lazard Capital Markets LLC is the placement agent.
Headquartered in Woodridge, Ill., Advanced Life Sciences is a biopharmaceutical company focused on treatments for infections, cancer and inflammation.
| Issuer: | Advanced Life Sciences Holdings, Inc.
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| Issue: | Stock
|
| Amount: | $36,006,000
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| Shares: | 10.2 million
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| Price: | $3.53
|
| Warrants: | For 5.1 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $3.81
|
| Placement agent: | Lazard Capital Markets LLC
|
| Announcement date: | Feb. 28
|
| Settlement date: | March 2
|
| Stock symbol: | Nasdaq: ADLS
|
| Stock price: | $3.45 at close Feb. 27
|
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