Investors in offering also receive warrants for 1.82 million shares
By Toni Weeks
San Diego, Nov. 20 - FluoroPharma Medical, Inc. announced it settled a $1.55 million private placement of stock on Nov. 19.
The company sold 1,819,118 common shares at about $0.85 apiece, an 18.06% premium to the Nov. 16 closing share price of $0.72.
Investors also received 100% warrant coverage; the warrants are exercisable for one year at $0.90, a 25% premium to the Nov. 16 closing share price.
Proceeds will be used for working capital.
The biopharmaceutical company is based in Boston.
| Issuer: | FluoroPharma Medical, Inc.
|
| Issue: | Common stock
|
| Amount: | $1,546,250
|
| Shares: | 1,819,118
|
| Price: | $0.85 (approximate)
|
| Warrants: | For 1,819,118 shares
|
| Warrant expiration: | One year
|
| Warrant strike price: | $0.90
|
| Settlement date: | Nov. 19
|
| Stock symbol: | OTCBB: FPMI
|
| Stock price: | $0.72 at close Nov. 16
|
| Market capitalization: | $16.16 million
|
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