By Devika Patel
Knoxville, Tenn., Nov. 2 - GTC Biotherapeutics, Inc. negotiated a private placement of stock for $3.63 million on Nov. 2, according to an 8-K filed Monday with the Securities and Exchange Commission.
The company will sell the common shares at $1.07 apiece to LFB Biotechnologies SAS.
Settlement is expected Nov. 5.
Framingham, Mass.-based GTC develops and produces human therapeutic proteins through transgenic technology.
| Issuer: | GTC Biotherapeutics, Inc.
|
| Issue: | Common stock
|
| Amount: | $3,625,000
|
| Price: | $1.07
|
| Warrants: | No
|
| Investor: | LFB Biotechnologies SAS
|
| Pricing date: | Nov. 2
|
| Settlement date: | Nov. 5
|
| Stock symbol: | Nasdaq: GTCB
|
| Stock price: | $1.07 at close Oct. 30
|
| Market capitalization: | $11.2 million
|
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