New Issue: eXegenics secures $8.61 million from private placement of stock

By Sheri Kasprzak

New York, Aug. 15 - eXegenics, Inc. entered into agreements to close an $8,613,000 private placement.

The company intends to sell 19,440,491 shares to a group of investors led by Phillip Frost. The offering represents 51% of the company's outstanding stock, and the price is based upon the book value of the company at the closing date on Aug. 14.

Based in Pittsford, N.Y., eXegenics does not have any operations.

Issuer:	eXegenics, Inc.
Issue:	Stock
Amount:	$8,613,000
Shares:	19,440,491
Warrants:	No
Investors:	Phillip Frost (lead)
Settlement date:	Aug. 14
Stock symbol:	OTCBB: EXEG
Stock price:	$0.40 at close Aug. 14

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