Offering sells company’s common shares at $4.50 apiece until April 6
By Devika Patel
Knoxville, Tenn., Jan. 4 – Emmaus Life Sciences, Inc. raised about $1.7 million in a private placement of stock with Korea Bio Medical Science Institute on Dec. 28, according to an 8-K filed Monday with the Securities and Exchange Commission. It may raise an additional $38.3 million before April 6.
The company is selling the common shares at $4.50 apiece.
The Torrance, Calif., private company develops treatments and therapies for rare diseases.
| Issuer: | Emmaus Life Sciences, Inc.
|
| Issue: | Common stock
|
| Amount: | $40 million
|
| Price: | $4.50
|
| Warrants: | No
|
| Investor: | Korea Bio Medical Science Institute
|
| Settlement dates: | Dec. 28 (for about $1.7 million), April 6
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