Company also issues five-year warrants, each exercisable at $0.097
By Devika Patel
Knoxville, Tenn., July 5 - Alliqua, Inc. completed a $1.98 million private placement of stock on June 28, according to an 8-K filed Friday with the Securities and Exchange Commission. Summer Street Research Partners was the agent.
The company sold 24,406,481 common shares at $0.081 per share. The price per share is a 15.71% premium to the June 27 closing share price of $0.07.
Investors also received warrants for 24,406,481 shares. Each warrant is exercisable at $0.097 for five years. The strike price is a 38.57% premium to the June 27 price.
The biomedical products company is based in New York.
| Issuer: | Alliqua, Inc.
|
| Issue: | Common stock
|
| Amount: | $1,976,925
|
| Shares: | 24,406,481
|
| Price: | $0.081
|
| Warrants: | For 24,406,481 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.097
|
| Agent: | Summer Street Research Partners
|
| Settlement date: | June 28
|
| Stock symbol: | OTCBB: ALQA
|
| Stock price: | $0.07 at close June 27
|
| Market capitalization: | $20.54 million
|
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