By Sheri Kasprzak
New York, March 31 - EiRx Therapeutics plc said it has closed a £1,207,000 PIPE.
The company placed 603.5 million shares at 0.2p each through agent HB Corporate.
Proceeds from the deal will be used for working capital and general corporate purposes.
Separately, EiRx reached an agreement with EiRx Pharma Ltd. for a loan of £245,000. The loan, due March 31, 2007, is convertible into common shares at 0.2p each.
Located in Cork, Ireland, EiRx develops therapies for cancer.
| Issuer: | EiRx Therapeutics plc
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| Issue: | Stock
|
| Amount: | £1,207,000
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| Shares: | 603.5 million
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| Price: | 0.20p
|
| Warrants: | No
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| Placement agent: | HB Corporate
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| Settlement date: | March 31
|
| Stock symbol: | London: ERX
|
| Stock price: | 0.29p at close March 31
|
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