New Issue: CNS Response completes $2.9 million tranche of units private placement

By Devika Patel

Knoxville, Tenn., Dec. 31 - CNS Response, Inc. raised about $2.9 million in a tranche of a $5.94 million private placement of units on Dec. 24, according to an 8-K filed Thursday with the Securities and Exchange Commission. The company took in $2.05 million on Aug. 27 and $3.89 million on Dec. 29.

The company sold 38 units at $54,000 per unit in the first tranche. It sold 72 units in the second and about 55 units in the third. Each unit consists of 180,000 shares and one five-year warrant for 90,000 shares, exercisable at $0.30.

Proceeds will be used for general corporate purposes, including clinical trial expenses, research and development expenses and general and administrative expenses.

Based in Costa Mesa, Calif., CNS Response develops and commercializes new indications of approved drugs and drug candidates.

Issuer:	CNS Response, Inc.
Issue:	Units of 180,000 shares and one warrant for 90,000 shares
Amount:	$8.84 million (approximate)
Units:	165 (approximate)
Price:	$54,000
Warrants:	One warrant for 90,000 shares per unit
Warrant expiration:	Five years
Warrant strike price:	$0.30
Settlement dates:	Aug. 27 (for $2,052,000), Dec. 24 (for about $2.9 million), Dec. 29 (for $3,888,000)
Stock symbol:	OTCBB: CNSO
Stock price:	$0.50 at close Aug. 26
Market capitalization:	$31.8 million

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