By Sheri Kasprzak
New York, Dec. 27 - Callisto Pharmaceuticals, Inc. completed a private placement of series A convertible preferred stock for $5.75 million.
The company issued a total of 575,000 shares of the preferreds at $10.00 each. Most recently, the company sold 402,100 shares. In October, the company sold 172,250 shares of the preferreds.
The preferreds are convertible into common shares at $0.75 each.
The investors also received warrants for 7.658 million shares, exercisable at $0.75 for five years.
Proceeds will be used for clinical development.
New York-based Callisto develops treatments for cancer and other serious diseases.
| Issuer: | Callisto Pharmaceuticals, Inc.
|
| Issue: | Series A convertible preferred stock
|
| Amount: | $5.75 million
|
| Shares: | 575,000
|
| Price: | $10.00
|
| Conversion price: | $0.75
|
| Warrants: | For 7.658 million shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.75
|
| Settlement date: | Dec. 27
|
| Stock symbol: | Amex: KAL
|
| Stock price: | $0.73 at close Dec. 26
|
© 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.
