New Issue: Metabasis wraps $5.81 million private placement of shares, warrants

By Devika Patel

Knoxville, Tenn., April 16 - Metabasis Therapeutics, Inc. said it completed a $5.81 million private placement of stock and warrants. It also announced that it raised $3.94 million as a result of the company lowering the strike price of its existing warrants.

In the placement, the company sold 2,485,103 common shares at $2.34 per share. Investors also received five-year warrants for 1,057,196 common shares, which are exercisable at $2.69.

As a result of the lower strike price, warrants for the purchase of 127,557 shares of common stock with an exercise price of $8.70 per share and warrants for the purchase of 1,558,279 shares of common stock with an exercise price of $6.74 per share were exercised at $2.34.

Based in San Diego, Metabasis is a biopharmaceutical company focused on the development of treatments for chronic diseases involving the pathway to the liver.

Issuer:	Metabasis Therapeutics, Inc.
Issue:	Common stock, warrants
Amount:	$5,815,141.02
Shares:	2,485,103
Price:	$2.34
Warrants:	For 1,057,196 shares
Warrant expiration:	Five years
Warrant strike price:	$2.69
Settlement date:	April 16
Stock symbol:	Nasdaq: MBRX
Stock price:	$2.2999 at close April 16

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