By Sheri Kasprzak
New York, July 19 - InNexus Biotechnology Inc. priced a $5.5 million private placement.
The company intends to sell 13,857,394 units at $0.3969, or C$0.45, each to SDS Capital Group SPC Ltd. and RAB Capital plc.
The units consist of one share and one warrant. The warrants are exercisable at C$0.50 each for two years.
The deal is not brokered.
InNexus, based in Scottsdale, Ariz., develops technology platforms to improve the potency of existing antibody products.
| Issuer: | InNexus Biotechnology Inc.
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| Issue: | Units of one share and one warrant
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| Amount: | $5.5 million
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| Units: | 13,857,394
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| Price: | $0.3969
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.50
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| Placement agent: | Non-brokered
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| Investors: | SDS Capital Group SPC Ltd. and RAB Capital plc
|
| Pricing date: | July 18
|
| Stock symbol: | TSX Venture: IXS
|
| Stock price: | C$0.51 at close July 19
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