50,099,700 shares sold at $0.1003 each along with seven-year warrants
By Devika Patel
Knoxville, Tenn., Dec. 23 – Interleukin Genetics Inc. completed a $5.03 million private placement of stock on Dec. 23, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The company sold 50,099,700 common shares at $0.1003 apiece. The price per share is a 16.42% discount to the Dec. 22 closing share price of $0.12.
Investors also received 100% warrant coverage. Each seven-year warrant is exercisable at $0.1003, also a 16.42% discount to the Dec. 22 closing share price.
Interleukin, based in Waltham, Mass., is a biotechnology company.
| Issuer: | Interleukin Genetics Inc.
|
| Issue: | Common stock
|
| Amount: | $5,025,000
|
| Shares: | 50,099,700
|
| Price: | $0.1003
|
| Warrants: | For 50,099,700 shares
|
| Warrant expiration: | Seven years
|
| Warrant strike price: | $0.1003
|
| Settlement date: | Dec. 23
|
| Stock symbol: | OTCBB: ILIU
|
| Stock price: | $0.12 at close Dec. 22
|
| Market capitalization: | $13.36 million
|
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