By Sheri Kasprzak
New York, Aug. 8 - Uroplasty, Inc. completed a $2,084,999 private placement.
The company sold 1,389,999 shares at $1.50 each to a group of institutional investors.
The investors received warrants for 695,000 shares, exercisable at $2.50 each for five years.
Craig Hallum Capital Group, LLC was the placement agent.
Proceeds will be used to expand the company's U.S. sales and marketing efforts. The rest will be used for working capital and general corporate purposes.
Uroplasty, based in Minnetonka, Minn., is a medical device company focused on products used to treat voiding dysfunction.
| Issuer: | Uroplasty, Inc.
|
| Issue: | Stock
|
| Amount: | $2,084,999
|
| Shares: | 1,389,999
|
| Price: | $1.50
|
| Warrants: | For 695,000 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $2.50
|
| Placement agent: | Craig Hallum Capital Group, LLC
|
| Settlement date: | Aug. 7
|
| Stock symbol: | Amex: UPI
|
| Stock price: | $2.10 at close Aug. 7
|
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