By Susanna Moon
Chicago, June 21 - MicroIslet, Inc. said it arranged a $1 million private placement of stock.
The company agreed to sell 2.575 million shares for $0.40 each and to issue 1.3 million warrants exercisable at $0.60 for five years.
Proceeds will be used for working capital.
MicroIslet is a San Diego-based biotechnology company that develops and commercializes transplant technologies.
Issuer MicroIslet, Inc.
| Issue: | Stock
|
| Amount: | $1 million
|
| Shares: | 2.575 million
|
| Price: | $0.40
|
| Warrants: | 1.3 million
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.60
|
| Pricing date: | June 20
|
| Stock symbol: | OTCBB: MIIS
|
| Stock price: | $0.40 at close June 4
|
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