16,304,350 common shares sold at $0.92 to Schinazi and other investors
By Devika Patel
Knoxville, Tenn., March 26 – Cocrystal Pharma, Inc. settled a $15 million private placement of stock on March 25, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The company sold 16,304,350 common shares. The price per share, of $0.92, is an 8.91% discount to $1.01, the March 24 closing share price.
The company’s chairman Raymond F. Schinazi will invest $3.19 million.
Proceeds will be used for working capital and general corporate purposes.
The Bothell, Wash., company develops and manufactures over-the-counter drugs and cosmetic and beauty products.
| Issuer: | Cocrystal Pharma, Inc.
|
| Issue: | Common stock
|
| Amount: | $15 million
|
| Shares: | 16,304,350
|
| Price: | $0.92
|
| Warrants: | No
|
| Investors: | Raymond F. Schinazi (for $3,187,667)
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| Settlement date: | March 25
|
| Stock symbol: | OTCBB: COCP
|
| Stock price: | $1.01 at close March 24
|
| Market capitalization: | $121.64 million
|
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