By Sheri Kasprzak
New York, Nov. 1 - Electro-Optical Sciences, Inc. will conclude a $13,180,589 private placement.
The company plans to sell 2,312,384 shares at $5.70 each. The investors will also receive warrants for 346,858 shares, exercisable at $6.70 each for five years. The strike price of the warrants represents a 16.3% premium to the company's closing market price on Oct. 31.
Jefferies & Co., Inc. was the placement agent.
Proceeds will be used for general corporate purposes.
Located in Irvington, N.Y., Electro-Optical is a medical device company focused on developing non-invasive, point-of-care instruments to diagnose melanoma.
| Issuer: | Electro-Optical Sciences, Inc.
|
| Issue: | Stock
|
| Amount: | $13,180,589
|
| Shares: | 2,312,384
|
| Price: | $5.70
|
| Warrants: | For 346,858 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $6.70
|
| Placement agent: | Jefferies & Co., Inc.
|
| Announcement date: | Nov. 1
|
| Stock symbol: | Nasdaq: MELA
|
| Stock price: | $5.76 at close Oct. 31
|
© 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.
