Agents Noble Financial, Monarch Capital, Burnham Hill assist with sale
By Devika Patel
Knoxville, Tenn., June 24 - FluoroPharma Medical Inc. completed a $1.64 million private placement of stock on June 22, according to an 8-K filed Friday with the Securities and Exchange Commission. Noble Financial Capital Markets, Monarch Capital Group, LLC and Burnham Hill Partners LLC were the agents.
The company sold 1,976,351 common shares at $0.83 apiece. Investors also received 691,723 four-year warrants, which are each exercisable at $1.33. The strike price is a 5% discount to the June 21 closing share price of $1.40.
Proceeds will be used for working capital purposes.
The biopharmaceutical company is based in Boston.
| Issuer: | FluoroPharma Medical Inc.
|
| Issue: | Common stock
|
| Amount: | $1,640,371
|
| Shares: | 1,976,351
|
| Price: | $0.83
|
| Warrants: | 691,723 warrants
|
| Warrant expiration: | Four years
|
| Warrant strike price: | $1.33
|
| Agent: | Noble Financial Capital Markets, Monarch Capital Group, LLC and Burnham Hill Partners LLC
|
| Settlement date: | June 22
|
| Stock symbol: | OTCBB: FPMI
|
| Stock price: | $1.40 at close June 22
|
| Market capitalization: | $28.18 million
|
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