By Sheri Kasprzak
Atlanta, Oct. 18 - Viral Genetics Inc. sold shares totaling $2 million in a private placement to an individual investor, the company said Monday.
Investor John D. Lefebvre subscribed to eight million shares of restricted common stock. Lefebvre will also receive warrants for four million shares at $1 over two years. The purchase will be terminated if the deal does not close by Nov. 30.
The company currently does not have enough unissued or authorized shares to finish the sale. Viral Genetics is in the process of amending its certificate of incorporation in an effort to increase its common shares to 250 million. The purchase price of the deal has been put into an escrow account until this can be completed.
Viral Genetics is a South Pasedena, Calif.-based biotechnology company.
| Issuer: | Viral Genetics Inc.
|
| Issue: | Stock
|
| Amount: | $2 million
|
| Shares: | 8 million of restricted common stock
|
| Warrants: | For 4 million shares
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $1
|
| Investor: | John D. Lefebvre
|
| Settlement date: | Oct. 13
|
| Announcement date: | Oct. 18
|
| Stock price: | $0.31 at close Oct. 13
|
|
|
© 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.
