By Sheri Kasprzak
New York, Jan. 19 - DOR BioPharma, Inc. said it secured a $6 million equity line with Fusion Capital Fund II, LLC.
Fusion agreed to buy shares of DOR over the course of 15 months.
In each month of the term of the agreement, Fusion may buy up to $400,000 of DOR's stock at a price based upon the market price at the date of sale without any fixed discount.
Proceeds will be used for general corporate purposes.
Based in Miami, DOR is a biopharmaceutical company focused on treatments for cancer and the side effects of cancer therapy.
| Issuer: | DOR BioPharma, Inc.
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| Issue: | Standby equity distribution agreement
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| Amount: | $6 million
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| Tenor: | 15 months
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| Price: | Equal to the market price at date of sale without discount
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| Warrants: | No
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| Investor: | Fusion Capital Fund II, LLC
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| Announcement date: | Jan. 19
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| Stock symbol: | AMEX: DOR
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| Stock price: | $0.31 at close Jan. 19
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