Investors in offering also receive warrants for 425,904 common shares
By Devika Patel
Knoxville, Tenn., Dec. 19 - FluoroPharma Medical, Inc. settled a $1.01 million private placement of stock on Dec. 13, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company sold 1,216,868 common shares at $0.83 apiece, a 3.49% discount to the Dec. 13 closing share price of $0.86.
Investors also received warrants for 425,904 shares; the warrants are exercisable $1.33, a 54.65% premium to the Dec. 13 closing share price.
Proceeds will be used for working capital and to invest in new product innovations expected in the first quarter of 2012.
The biopharmaceutical company is based in Boston.
| Issuer: | FluoroPharma Medical, Inc.
|
| Issue: | Common stock
|
| Amount: | $1.01 million
|
| Shares: | 1,216,868
|
| Price: | $0.83
|
| Warrants: | For 2425,904 shares
|
| Warrant strike price: | $1.33
|
| Settlement date: | Dec. 13
|
| Stock symbol: | OTCBB: FPMI
|
| Stock price: | $0.86 at close Dec. 13
|
| Market capitalization: | $16.72 million
|
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