Agent Ladenburg Thalmann helps raise proceeds for product development
By Devika Patel
Knoxville, Tenn., Dec. 12 - Aradigm Corp. said it has arranged a $6 million private placement of stock with two investors. Ladenburg Thalmann & Co. Inc. was the agent.
The company will sell 50 million common shares at $0.12 apiece. The price per share represents a 9.09% premium to $0.11, the closing share price on Dec. 11.
Proceeds will be used for product development and forming partnerships for commercialization.
Hayward, Calif.-based Aradigm develops non-invasive delivery systems for self-administration of biopharmaceuticals and small molecules.
| Issuer: | Aradigm Corp.
|
| Issue: | Common shares
|
| Amount: | $6 million
|
| Shares: | 50 million
|
| Price: | $0.12
|
| Warrants: | No
|
| Agent: | Ladenburg Thalmann & Co. Inc.
|
| Pricing date: | Dec. 12
|
| Stock symbol: | OTCBB: ARDM
|
| Stock price: | $0.11 at close Dec. 11
|
| Market capitalization: | $22.33 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.
