By Devika Patel
Knoxville, Tenn., Sept. 15 - Cardium Therapeutics, Inc. gave further details about a $4.5 million direct offering of stock and warrants in a prospectus supplement filed Tuesday with the Securities and Exchange Commission. The deal was announced Sept. 14.
Cardium will sell 3 million common shares at $1.50 per share. Investors also will receive warrants for 2.25 million common shares, which are exercisable at $1.77 for five years.
Dawson James Securities, Inc. is the agent for the deal, which is slated to settle on Sept. 16.
Proceeds will be used for other general corporate purposes.
San Diego-based Cardium develops therapeutic products and devices for cardiovascular, ischemic and related disorders.
| Issuer: | Cardium Therapeutics, Inc.
|
| Issue: | Common shares, warrants
|
| Amount: | $4.5 million
|
| Shares: | 3 million
|
| Price: | $1.50
|
| Warrants: | For 2.25 million shares
|
| Warrant strike price: | $1.77
|
| Warrant expiration: | Five years
|
| Agent: | Dawson James Securities, Inc.
|
| Announcement date: | Sept. 14
|
| Pricing date: | Sept. 15
|
| Settlement date: | Sept. 16
|
| Stock symbol: | Amex: CXM
|
| Stock price: | $1.78 at close Sept. 14
|
| Market capitalization: | $80.4 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.
