By Sheri Kasprzak
New York, Oct. 12 - Vyteris Holdings (Nevada), Inc. completed a $2.5 million private placement.
The company sold 5 million units at C$0.50 each to BTR Global Growth Trading Ltd. and BTR Global Opportunity Trading Ltd. The units consist of two shares and one warrant. Each warrant is exercisable at $0.45 for two years.
Vyteris, based in Fair Lawn, N.J., develops drugs that are delivered through transdermal patches.
Issuer: | Vyteris Holdings (Nevada), Inc.
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Issue: | Units of two shares and one warrant
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Amount: | $2.5 million
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Units: | 5 million
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Price: | $0.50
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | $0.45
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Investors: | BTR Global Growth Trading Ltd. and BTR Global Opportunity Trading Ltd.
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Settlement date: | Oct. 5
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Stock symbol: | OTCBB: VYHN
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Stock price: | $0.50 at close Oct. 5
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